Congress Passes Road to Housing Act 358-32, Sending Bipartisan Supply Bill to Trump
The House voted 358-32 Tuesday to pass the Road to Housing Act, a bipartisan package of nearly 50 housing measures aimed at expanding home supply through deregulation and construction incentives. The Senate cleared the bill 85-5 on Monday, and President Trump is expected to sign it. The legislation marks Congress's broadest housing push in years but leaves the two biggest affordability headwinds — elevated mortgage rates and five years of steep price appreciation — explicitly outside its scope.
The House voted 358-32 Tuesday to pass the Road to Housing Act, a bipartisan package of nearly 50 housing measures aimed at expanding home supply through deregulation and construction incentives. The Senate cleared the bill 85-5 on Monday, and President Trump is expected to sign it. The legislation marks Congress's broadest housing push in years but leaves the two biggest affordability headwinds — elevated mortgage rates and five years of steep price appreciation — explicitly outside its scope.
What the Bill Does
The Road to Housing Act bundles proposals from both parties into a single package. Its Build Now Act component redirects existing federal funding toward localities that build more housing, effectively cutting allocations to regions building less. A separate provision makes it easier and cheaper to construct manufactured housing — the measure legislators expect to produce the fastest real-world impact.
The bill's core strategy is supply-side: relax local regulations and put more starter homes on the market. Sen. Tim Scott (R-S.C.) and Sen. Elizabeth Warren (D-Mass.) spearheaded the legislation, with Scott acknowledging the structural tension between existing homeowners who want their property values to hold and first-time buyers who need prices to fall. The idea is to grow the number of affordable units rather than compress the value of existing stock.
The Fed Constraint No Bill Can Touch
What Congress cannot legislate is the rate environment. Mortgage rates track the yield on the 10-year Treasury note, a figure driven by market forces and Federal Reserve policy. Scott said the bill makes no attempt to reach into monetary policy, calling Fed independence "probably good news." The acknowledgment is significant: even a sweeping supply expansion will compete against the cost of capital so long as rates stay elevated. Durable affordability improvement requires movement on both supply and the rate cycle — and only one of those variables is in lawmakers' hands.
Private Equity Cap and a CBDC Rider
The final text places new limits on institutional investors in single-family homes. No firm may make purchases that push its total holdings above 350 units; existing portfolios are untouched and no divestiture is required. Warren called the provision meaningful, framing it as Congress telling private equity it cannot keep converting the country from a nation of owners to a nation of renters.
A CBDC ban is also tucked into the legislation, prohibiting the federal government from issuing a digital dollar. Scott offered a blunt explanation: it got the bill passed.
What Remains Unresolved
Warren's own assessment was measured. She described the bill as significant but said the country's housing problem is larger still and that more action will be needed. The legislation does not address mortgage rates or the price gains accumulated over the past five years — the factors most directly determining whether a home is within reach for a first-time buyer today.
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Filed by the newsroom of MarketPR on June 24, 2026. Source: MarketPR. Indicative figures are not investment advice.