The first major federal housing legislation in nearly 30 years, the '21st Century ROAD to Housing Act,' has officially become law. The bill passed with broad bipartisan support but took effect without the president's signature after he declined to sign or veto the measure. The new law aims to address the ongoing housing affordability crisis by increasing the nation's housing supply.
The legislation is designed to reduce regulatory friction for homebuilders like Lennar. Key provisions include grants to encourage local governments to ease restrictive zoning rules, streamlined permitting processes, and support for manufactured housing. The act also places some limits on institutional investors purchasing single-family homes. These measures are expected to lower development costs and accelerate construction timelines for builders.