The proposal would ease regulations, allow banks to invest more in affordable housing, and change a rule that has been holding back manufactured housing.
The U.S. Senate passed a bipartisan bill aimed at addressing the housing crisis. According to a report by Charlotte Kramon, Alex Veiga and Mary Clare Jalonick for the Associated Press, the legislation would give local governments more control over housing issues, allow banks to invest more in affordable housing, lift the number of units in public housing that can receive private financing through Section 8 funding, and streamline regulations and environmental reviews to make homes easier to build.
The bill also proposes eliminating a limit on a grant for shelter beds and homelessness outreach and getting rid of a requirement to build manufactured homes on a permanent chassis, a rule that has been holding back the modular housing sector.
The bill would also impact corporate investors, defined as those who own 350 or more homes. They would still be allowed to buy or build homes to rent, but would have to sell them after seven years.
While the bill received ‘overwhelming’ support in the Senate, House leaders have indicated that they may not accept the Senate version.
Read the full story: Senate passes bipartisan housing bill to improve access and affordability
Houston Habitat for Humanity builds modular homes in one-third the construction time of traditional houses
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Planetizen Federal Action Tracker
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California High-Speed Rail Authority CEO resigns after $600,000 scandal
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