"Housing affordability remains one of the most pressing challenges facing aspiring homeowners, renters, and communities, Bob Broeksmit, president and CEO of the Mortgage Bankers Association (MBA), said in a statement. Today's overwhelmingly bipartisan vote in the House Financial Services Committee is a significant milestone. Broeksmit said the bill advances several long-standing MBA priorities, including updates to Federal Housing Administration (FHA) multifamily loan limits, targeted improvements to rural housing programs and stronger coordination among federal agencies."
"He noted that the median U.S. household income is now sufficient to buy a home in only 128 metropolitan statistical areas, down from 287 in 2019. By modernizing outdated housing programs, reducing unnecessary barriers to development, and increasing flexibility for local communities, the Housing for the 21st Century Act helps create the conditions needed to build and preserve more affordable homes across America, Dworkin said in a statement."
Housing for the 21st Century Act is sponsored by Financial Services Committee Chairman French Hill, Ranking Member Maxine Waters, Rep. Mike Flood, and Rep. Emanuel Cleaver. The legislation aims to boost housing supply and improve affordability by modernizing federal housing programs and reducing regulatory barriers. The Mortgage Bankers Association praises updates to FHA multifamily loan limits, targeted rural housing improvements, and stronger federal coordination. The National Housing Conference highlights shrinking metro areas where median income can support home purchases and says program modernization, fewer development barriers, and local flexibility will help build and preserve affordable homes. The measure emphasizes transparency, consumer protections, and accountability.
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