The bipartisan legislation was crafted in both chambers and must now pass the House. It seeks to build more homes and prevent large investors from out-bidding families.
The Senate voted overwhelmingly on Monday to pass a sweeping housing affordability bill aimed at lowering costs, putting Congress on the brink of a rare bipartisan victory in Donald Trump’s second term.
The vote was 85-5.
The legislation, which makes it easier to build homes and slaps limits on Wall Street investors from buying up houses, now goes to the House, which hopes to vote on it in the next few days. Then, it would go to Trump’s desk to be signed into law.
But does it do anything requiring them to divest the properties they currently own?
The legislation, which makes it easier to build homes
The goal is to just keep building more units forever, which will make developers very happy. It’s also got a big carve out for modular housing, which the tech sector has been pushing for a long time. So, get ready to live in the pod. We’ll have to see about whether the next Agg Bill has us eating the bugs.
They’re also giving a bunch of power to the EPA to bigfoot state environmental standards. So that’ll be extra fun.
Text Here in case anyone is curious.
Funnily enough, I can’t find anything in this bill that restricts the ability for investor aggregated housing.
What happened, did some repugnican’s kids try buying a house and found out how much of a nightmare it really is?
if both parties voted for this, I’m curious to hear what the loopholes are for the rich to get richer off of it.
According to the article, (which is very light on details and rambles on about the political implications instead - thanks corporate media) the restrictions are just for single family homes. So this will help stabilize housing prices for people who are already well off, and instead push these equity firms to focus on cheaper housing like apartments, so that the working class can be squeezed even more.
They must be insider trading with contractors now. Here comes the no bid contracts for companies owned by their family members and oligarch shareholders
