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Congress passes ROAD to Housing Act to cut regulatory barriers
HousingWire says the 21st Century ROAD to Housing Act aims to remove zoning and other regulatory obstacles that have limited homebuilding and helped drive higher rents and prices.
HousingWire says Congress has enacted the 21st Century ROAD to Housing Act, a package designed to reduce regulatory barriers that have constrained homebuilding for years. The outlet links the affordability crisis to a persistent shortage of homes, which has fueled competition for limited supply and pushed both rents and home prices higher.
The article traces the underlying supply squeeze to multiple factors, including the post-Great Recession slowdown in housing starts, the disappearance of skilled construction workers, restrictive zoning and land-use rules that make it hard to build smaller starter homes and “missing middle” housing, and supply chain disruptions during COVID-19 that affected homebuilding materials.
HousingWire adds that the law is intended to create incentives for localities to reform zoning rules and to modernize federal housing programs. It also points to improved feasibility for multifamily projects, but says the results will depend on follow-through by states, cities, and industry.