Knocking Down Barriers to Build More Housing

Housing costs are out of control, and hard-working families in Michigan are paying the price. As homeownership grows increasingly out of reach, Americans are struggling to start a family and put down roots.

The 21st Century ROAD to Housing Act takes these challenges head-on, and I was proud to help get this bill passed through the House and into law as part of my broader effort to Revive the American Dream within my Blueprint for a Better America.

This legislation takes important steps to address many of the challenges families across Michigan are facing from rising costs and regulatory delays to corporations buying up single-family homes — all of which are making it harder for families to buy a home and harder for builders to keep up with demand. Specifically, this law will increase housing supply and cut unnecessary red tape by:

• Prohibiting large institutional investors that own more than 350 single-family homes from buying up more of the market;
• Speeding up home construction, streamlining permitting, and reducing regulatory delays;
• Modernizing federal housing programs to support more affordable housing development;
• Expanding financing opportunities for community banks so they can support more local housing projects; and
• Encouraging the construction of single-family homes, apartments, manufactured housing, and other affordable housing options.

Michigan families deserve a housing market that works for them — not against them. I will continue working to lower costs, expand housing opportunities, and ensure that more hardworking Americans can achieve the dream of owning a home.