Key facts
- The 21st Century Road to Housing Act has become law.
- The bill introduces new restrictions on single-family home investment.
- It also provides incentives for localities to shorten entitlement timelines.
- The legislation passed with bipartisan support in Congress.
- President Donald Trump did not sign the bill, citing a demand for new voter ID requirements.
The 21st Century Road to Housing Act has officially become law, following its passage with bipartisan support in both chambers of Congress. The legislation, which aims to address housing affordability, includes provisions such as new restrictions on investment in single-family homes and incentives for local governments to expedite entitlement processes. President Donald Trump, however, did not sign the bill, stating his refusal until new voter ID requirements were passed by the Senate. Sharon Wilson Géno, president of the National Multifamily Housing Council, described the bill as groundbreaking, marking the first federal housing legislation passed in 30 years. She noted that while it contains many smaller solutions that will be impactful for specific deals, it may not immediately bring about fundamental changes for millions of Americans. Wilson Géno is scheduled to meet with lawmakers on Capitol Hill to discuss the subsequent steps for the housing industry now that the bill is enacted.