This bill is a huge win for the abundance movement.
It passed the Senate 85–5 and the House 358–32.
Finally, a serious federal housing bill focused on supply instead of subsidies!
The bill:
• Streamlines permitting
• Cuts red tape
• Supports manufactured and modular housing
• Pushes local governments toward zoning reform
• Improves housing finance tools
• Helps smaller banks make construction and mortgage loans
• Gives cities more incentive to actually build homes
That matters because almost everything is downstream of housing.
Where people can live determines where they can work, who they can marry, how many kids they can have, how long their commute is, whether they can save money, whether startups can hire, whether cities stay dynamic, and whether the American dream still works.
In general, we made it too hard, too slow, and too expensive to build homes where people want to live. Then we acted shocked when prices exploded.
The best part of this bill to me is the signal that both parties are finally admitting that supply matters.
The real villain for all of us is scarcity!
V V cool that housing abundance is no longer a niche YIMBY idea on twitter.
The New York Times (@nytimes)
Breaking News: Congress overwhelmingly passed the most significant piece of housing legislation in 36 years, in a rare bipartisan feat. nyti.ms/4aPVX3v
Link
Congress Clears Housing Bill, Cementing a Rare Bipartisan Feat
A lopsided House vote cleared the measure for President Trump’s signature after a lengthy back and forth and several nearly fatal blows to the legislation.
nytimes.com
— https://nitter.net/nytimes/status/2069571233524433344#m