Federal Housing Bill Seeks to Boost Affordability Amid Regulatory Challenges
The US housing market is facing challenges related to affordability, according to JPMorganChase. The bank, which has experience in lending, investing, and philanthropy across various communities, notes that regulatory and process inefficiencies have increased costs for builders, making it harder for them to complete projects.
The 21st Century ROAD to Housing Act aims to address this issue by providing new tools to encourage housing supply and affordability. The bill includes provisions to reduce barriers, support planning and implementation, expand financing options, and create pathways for manufactured and modular housing.
JPMorganChase sees the legislation as a step in the right direction but emphasizes that execution is key. The bank recommends prioritizing state and local incentives, particularly in modernizing review processes and creating predictable conditions for housing production.