"The Senate's 21st Century ROAD to Housing Act passed 89-10 in March, after the House passed its own Housing for the 21st Century Act 390-9 in February."
"Both are broad omnibus packages aimed at modernizing legacy federal housing programs, streamlining regulations across HUD, USDA and related agencies, and incentivizing pro-housing zoning and land-use reforms."
"Section 901 of the 21st Century ROAD to Housing Act would ban large institutional investors from purchasing single-family homes nationwide, defining them as any for-profit entity with direct or indirect ownership."
"The Senate bill already incorporates 18 overlapping sections from the House bill and pulls in language from at least 41 related bills, most with bipartisan support."
The 119th Congress is nearing the passage of a bipartisan housing bill, with the Senate's 21st Century ROAD to Housing Act and the House's Housing for the 21st Century Act both advancing. These omnibus packages aim to modernize federal housing programs, streamline regulations, incentivize zoning reforms, and expand affordable housing finance. Key details will influence ownership and financing of single-family rentals and federal funding for housing services. The Senate bill includes provisions from the House bill and other bipartisan measures, but differences remain to be reconciled.
Read at www.housingwire.com
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