A major housing headline out of Washington this week, and this one came with rare bipartisan momentum.

I'm Kathy Fedke, and this is real estate news for investors.

This is Real Estate News with Kathy Fedke.

The U.S. House of Representatives has overwhelmingly passed a sweeping housing bill,

sending the affordability debate squarely to the Senate.

Late Monday night, lawmakers approved the Housing for the 21st Century Act by a decisive 390-9 vote.

This clears the measure under suspension of the rules, a fast-track process typically

reserved for legislation with broad bipartisan support. The bill was introduced by House Financial

Services Committee Chair, Jay French Hill, and is aimed at tackling one of the biggest drivers

of housing on affordability. Supply constraints. It previously cleared committee in December

by a 50 to one margin, signaling strong momentum well before this week's vote. Supporters say the

legislation focuses on reducing regulatory barriers and accelerating home building. In a joint op-ed,

Hill and Mike Flood,

who chairs the House Committee on Housing and Insurance,

argued that clearing red tape

and empowering local governments and community banks

is key to increasing supply and lowering costs.

The nearly 200-page bill includes roughly two dozen provisions. Among them, streamlined development

reviews, exemptions for certain smaller projects, modernization of local housing programs,

expanded financing for manufactured, affordable, and multifamily housing, and stronger housing

counseling, and financial literacy initiatives.

It also calls for increased oversight of federal housing agencies and further study of barriers facing seniors and people with disabilities.

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