The U.S. House of Representatives has overwhelmingly passed a bipartisan housing package that includes provisions related to land use, zoning, regulatory reform, financing and relief for community banks. The legislation, named the Housing for the 21st Century Act and supported by the National Association of Home Builders, is an effort to address affordability issues hampering the housing market and making it challenging for Americans to buy a house. Specifically, it hopes to cut red tape, allowing home builders to build more homes, more quickly. That’s why it was supported by the NAHB. Buddy Hughes, NAHB’s chairman, says it should help build more inventory. “NAHB commends the House for passing the Housing for the 21st Century Act, bipartisan legislation that will reduce impediments to increasing the housing supply,” Hughes said. The bill now moves to the Senate. (source)
