Particle.news
Download on the App Store
12 ARTICLES
·
last mo.

House Moves to Rewrite Housing Bill After Trump Backs Senate Plan

The lower chamber is preparing changes to the investor crackdown that the White House wants to keep intact.

Image
Image
Rep. Steve Scalise, R-La., center, walks with Rep. French Hill, R-Ark., right, to watch the video address by Ukrainian President Volodymyr Zelenskyy to the U.S. Congress at the Capitol in Washington, Wednesday, March 16, 2022. (AP Photo/Manuel Balce Ceneta)
A "sold" is posted outside a single family home in a residential neighborhood, in Glenside, Pa., Wednesday, Aug. 4, 2021. Sales of previously occupied U.S. homes slowed for the fifth consecutive month in June 2022 as higher mortgage rates and rising prices kept many home hunters on the sidelines. The National Association of Realtors said Wednesday, July 20, that existing home sales fell 5.4% last month from May to a seasonally adjusted annual rate of 5.12 million. (AP Photo/Matt Rourke, File)

Overview

  • President Trump urged passage Monday night of the Senate’s 21st Century ROAD to Housing Act, which cleared the chamber 89-10 in March.
  • House leaders signaled they will advance their own version next week, with Chairman French Hill and Rep. Maxine Waters working on revisions.
  • Section 901 sits at the center of the fight because it bars firms that own 350 or more single-family homes from buying more and orders new build-to-rent homes to be sold to buyers within seven years.
  • Lawmakers involved say the seven-year forced-sale rule will be softened rather than kept as written, and some Republicans want a permanent ban on a central bank digital currency.
  • The White House is reviewing the House changes and favors the Senate text, while industry groups split over Section 901, with builders and lenders warning of frozen financing and housing advocates urging the investor limits to protect first-time buyers.