Housing Law Becomes Law Without Trump Signature
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- 21st Century ROAD to Housing Act became law on Saturday without President Trump's signature after he declined to act within the 10-day review period, following his cancellation of a planned June 24 signing ceremony.
- Large institutional investors that own 350+ single-family homes are now barred from purchasing additional homes under the law, with exceptions for build-to-rent, renovate-to-rent, and renter-credit-building programs.
- Bill Owens, chairman of the National Association of Home Builders, stated the law will reduce regulatory barriers and encourage local zoning reforms to expand housing construction.
- Selma Hepp, chief economist at Cotality, noted the law targets key cost drivers like land-use restrictions and permitting delays but emphasized that relief for homebuyers will be gradual, not immediate.
- Manufactured homes are redefined under the law to include factory-built houses without permanent steel chassis, a change projected to lower costs by $5,000–$10,000 per unit, according to the Niskanen Center.
- A four-year pilot program will subsidize lenders to offer small mortgages under $100,000 and provide grants for down payments and closing costs to improve access in lower-cost markets.
- John Walkup, co-founder of UrbanDigs, stressed that while the law creates incentives, housing supply remains constrained by local factors like zoning, labor, and community opposition, limiting immediate impact.
Why it matters: The law shifts federal leverage to address a 4 million-home supply deficit by targeting zoning, financing, and institutional ownership—yet material gains for buyers hinge on local implementation over years, not months. The $5,000–$10,000 cost reduction in manufactured homes could expand ownership access for lower-income families.
