US Congress Passes Major Housing Bill to Tackle Affordability Crisis

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Washington: The US Congress has approved a wide-ranging bipartisan housing bill aimed at increasing home construction, reducing costs and improving affordability, sending the legislation to President Donald Trump for his signature.

The bill passed the House by a large bipartisan margin after clearing the Senate a day earlier. Lawmakers said the measure is designed to address a nationwide housing shortage that has contributed to rising home prices and rents.

The legislation seeks to speed up housing development by reducing regulations, streamlining approval processes and encouraging the construction of new and alternative forms of housing. It also includes measures to support renters, expand financing for housing projects and help communities convert unused properties into homes.

Supporters from both parties described the bill as one of the most significant housing reforms in decades and a rare example of bipartisan cooperation in a deeply divided Congress.

The move comes as housing affordability remains a major concern for American voters, with high home prices, elevated mortgage rates and rising rents continuing to put pressure on households across the country.

Pic Credit: AFP