The bipartisan legislation was crafted in both chambers and must now pass the House. It seeks to build more homes and prevent large investors from out-bidding families.
The Senate voted overwhelmingly on Monday to pass a sweeping housing affordability bill aimed at lowering costs, putting Congress on the brink of a rare bipartisan victory in Donald Trump’s second term.
The vote was 85-5.
The legislation, which makes it easier to build homes and slaps limits on Wall Street investors from buying up houses, now goes to the House, which hopes to vote on it in the next few days. Then, it would go to Trump’s desk to be signed into law.
Ah a fellow cynic. I also have no faith this will solve the problem. My issue is that this is all coming way too late. I personally think they’ve gotten all the easy money out of the system and realizing that the housing market has hit a temporary peak. Now it’s safe to pass this bill and allow politicians to get brownie points. Atleast in my area, I’m hearing of way less stories of families being beat out by cash offers 200k over asking. Which was the norm during covid.
It’s fine if they get political points for doing good things. That’s how it’s supposed to work.
This should help.
A bigger solution would be more real mass transit in cities. This Atlanta, LA, Texas traffic is fucking stupid and just one more lame won’t fix anything. Mass transit and walkable villages bring high density housing that people actually want. And they reduce traffic and make the world a better place for everyone.
Guess what, if you’re just visiting a city, or you want to go to a concert or a sporting event, mass transit still helps you even if you’re in a car. Shouldn’t be hard to see why.
Yeah the non-cynic in me agrees with you, but I shoved him in a box for that comment, and for this one. The thing that doesn’t sit well with me is that this bill is coming 6 years after the problem really became an issue. With that and the close proximity of midterms, it just seems like some corporate daddy with enough swing has gotten their fill of single family housing and has decided to let a bill be passed that doesn’t affect their current enormous backlog of “investments”. There’s also a crazy man that lives in my crawlspace that believes that this is all because community credit unions started bidding on homes in low income neighborhoods and selling them back fo people who lived there /have lived in that neghboor hood. He’s bad with specifics (radon and rats it from the crawlspace accommodations) but I think it was in Detroit or Chicago?
At anyrate, I would sure love a solid passenger train system that wasn’t getting fingerbanged by the elephant hand that is the US freight system.