The Senate has passed the largest housing bill in decades — bipartisan legislation designed to improve housing affordability and availability through deregulation, expanding old programs and banning institutional investors from buying single-family homes, with few exceptions.

The bill passed 89 to 10.

“It’s Democrats. It’s Republicans. It’s pieces they built out together,” said Sen. Elizabeth Warren, D-Mass., a co-sponsor of the bill, in an interview with NPR. “That is the strength of this bill.”

“It’s not a Republican issue or a Democrat Issue,” said Sen. Tim Scott, R-S.C., the bill’s other sponsor, speaking in advance of the vote on the Senate floor. “It’s an issue about helping moms like the one who raised me, the amazing woman that she was, become homeowners.”

  • Maeve@kbin.earth
    8·
    3 days ago

    In an open letter, 79 industry groups representing property managers like the Institute of Real Estate Management, as well as advocacy organizations pushing for more local housing construction, said they support new housing legislation but believe the Senate version should remove the sale requirement on build-to-rent homes. The letter warns that the provision “would effectively eliminate the production of Build-to-Rent (BTR) housing.”

    I’m sure multi-billion industry groups have the best interests of the public at heart. GG easing regulations too, new construction is flimsy af as it is, and has been since Reagan.