US EditionAmerica’s Housing Crisis Is a Job for Congress
The bipartisan ROAD to Housing Act aims to reduce regulatory barriers and incentivize communities to increase housing supply amid a nearly 4 million home shortfall, lawmakers say.
- The Senate Banking Committee has unanimously approved a comprehensive, 315-page bill known as the ROAD to Housing Act, designed to address the housing affordability crisis in the United States.
- The legislation responds to a near four-million-home shortfall caused by slowed construction after the 2008 financial crisis, aggravated by restrictive local zoning and rising mortgage rates.
- The bill includes 40 provisions derived from earlier bills, offering federal support to local governments, a $200 million innovation fund, and removes costly rules on manufactured housing.
- Bloomberg editors note the bill is imperfect but represents meaningful bipartisan progress, urging the president to support what they call a practical step forward amid rising mortgage rates averaging 6.72%.
- If passed, the legislation could help close the housing supply gap and improve affordability, although broader and sustained federal action remains necessary to address the national crisis.
Insights by Ground AI
Does this summary seem wrong?
26 Articles
26 Articles
The Times of Northwest Indiana+21 Reposted by 21 other sources
America’s housing crisis is a job for Congress
One of the many criticisms the president has levied against the Federal Reserve is that high rates are making it too expensive for Americans to buy a home. If affordability is the goal, he should be pressing Republicans in Congress…
·Cherokee County, United States
Read Full Article
Housing Crisis Demands Federal Intervention, Says Bloomberg - Davis Vanguard
The Renewing Opportunity in the American Dream (ROAD) to Housing Act is a bipartisan bill that seeks to address the US housing crisis by reducing regulatory barriers, providing financial incentives to communities that increase housing production, and streamlining environmental reviews for federally funded housing projects.
Coverage Details
Total News Sources26
Leaning Left4Leaning Right0Center21Last UpdatedBias Distribution84% Center
Bias Distribution
- 84% of the sources are Center
84% Center
L 16%
C 84%
Factuality
To view factuality data please Upgrade to Premium
