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EXCERPT:
Congress has passed “the largest housing bill in decades” on Tuesday. Today’s show breaks down how this might help Americans.
“This is a step in the right direction. Now and then, you have people who listen,” Crowder said.
One of the most important points in this bill is that it bans investors from buying up single-family homes.
According to AHF:
Passed by the Senate a day earlier, the 21st Century ROAD to Housing Act brings together a wide range of provisions aimed at making housing more affordable and encouraging housing construction.
The final version of the bill contains key priorities for the affordable housing industry, including raising the public welfare investment (PWI) cap from 15% to 20%. This opens the door to banks increasing their investments in affordable housing.
One of the most debated points was around banning institutional investors from buying single-family homes. While the final version includes restrictions on institutional investor buyers, it removes some of the language that would have limited the development of build-to-rent properties, according to housing advocates.