Congress Targets Housing Crisis as Solutions Elude Trump

Bipartisan packages in the Senate and the House aim to change federal housing law by reducing regulations and rewarding new construction, moves lawmakers say could spur a building boom. The House bill is expected to reach a floor vote next week, and congressional leaders from both parties say they are optimistic it will pass.

The White House has indicated it would support congressional housing legislation. President Trump has concentrated on demand-side steps, including directing the mortgage firms to buy back mortgage-backed securities and ordering a review of institutional investors, but he has not released a comprehensive housing plan and economists say those actions may have only marginal impact.

The bills target supply-side constraints by using incentives and penalties for communities that build, directing moves toward a national building code, easing zoning and permitting, encouraging modular and manufactured housing, and expanding programs to repair aging homes and convert vacant property.

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