US Senate passes bipartisan bill to lower housing costs
21st Century Road to Housing Act, which aims to boost supply and stop investors buying up homes, heads to HouseSign up for the Breaking News US email to get newsletter alerts in your inboxThe Senate on Monday passed a bipartisan measure aimed at lowering housing costs by streamlining construction and permitting, ending months of fraught negotiations on a priority for both parties ahead of November’s midterm elections.The 21st Century Road to Housing Act would limit investors’ ability to buy homes, waives some federal permitting rules in a bid to ease new construction, and authorizes pilot programs to facilitate grants for home improvements and planning affordable housing. It passed the Senate overwhelmingly, with a vote of 85-5, and now heads to the House of Representatives. Continue reading...
