Congress Looks To Pass Housing Bill

My first question would be “this is a State issue, why are Los Federales involved?” Of course, that ship has long sailed, especially since so many loan brokers are nationwide companies and federal regulations cause lots of issues with home building. But, the chance for some serious graft is ever-present

Congress is finally set to pass a housing bill: Here’s what it would do

Congress is on the verge of passing a bipartisan housing package after months of often tense negotiations between House and Senate Republicans, a significant achievement that lawmakers in both parties are eager to tout back home.

The bill, titled the 21st Century ROAD to Housing Act, would roll back some permitting regulations and limit corporations from buying up single-family homes, among other things.

It’s the first big push in decades to change regulations and address problems that have limited the nation’s housing supply and led to high costs of homeownership and renting nationwide. (snip)

There are more than 45 different provisions in the bill, including new programs to help communities find more places to build housing.

What could possibly go wrong with the feds being so involved? Localities can’t find places? Government rarely builds housing, companies do. Government tends to increase costs with their overpayment and graft money.

One significant provision in the bill would create federal incentives for local governments to build more housing by tying federal grants to housing construction. Another would streamline the process for environmental reviews, which can delay affordable housing construction.

The first part creates overpayment and graft, the second is excellent, as those environmental regulations can often create issues. Heck, if I had decided to replace my electric water heater with gas or an instant on it would have take a few weeks for the permits.

The bill will also restrict large investors from buying new single-family homes, an issue that Republicans in the House and Senate battled over.

“There’s some regulatory relief in there, but second, stopping the big private equity guys from buying homes — which is driving prices up and taking away some of the supply — is another benefit for homeowners across the country, including Montana,” Sen. Steve Daines (R-Mont.), who is retiring, told reporters Thursday.

That is excellent, this happens too much, and it’s not an overblown meme. But, is this legal? Does Congress have the Constitutional authority to restrict the purchase of houses by large companies from buying houses? Because it’s also telling homeowners they cannot sell their property to whom they want. I see lawsuits the minute it passes.

One thing that’s not in the bill? Federal money to create “affordable” housing, which upsets Dems like Liz Warren. Restricts the amount of federal slush money. Anyhow, if this passes, what will happen? Will more standalone houses be built, or, just more apartments and townhomes? Will prices come down or go up with the feds involved?