The housing crisis may come to an end after a bipartisan vote on the Road to Housing Act. It has been a major issue for new homebuyers. Will people be able to afford a home anytime soon?
On March 2nd, 2026, a housing legislative bill was introduced to increase supply and demand for housing and reduce costs. The purported reason for this bill is high home prices, with an average median of around half a million dollars.
While the focus of this bill is recent developments, this all started back in the 2008 recession. Caused by high-risk private mortgage lenders who gave loans to unqualified borrowers, it created a recipe for disaster.
After the financial crisis, large investment corporations took advantage of the situation and began buying thousands of foreclosed homes, driving the market to its current state.
Now, home prices have skyrocketed, and many middle- and lower-class Americans struggle to purchase a home amid rising prices.
The Road To Housing Act
The Road to Housing Act, introduced by Senator Elizabeth Warren (D-MA) and Senator Tim Scott (R-SC), aims to make homeownership more accessible by increasing housing supply and affordability.
The Act has gained widespread support due to a provision that restricts large corporations from purchasing single-family homes, which has brought great attention from the public. The bill also temporarily prohibits the Federal Reserve from establishing a digital dollar by the end of 2030.
Several members of the House Freedom Caucus have criticized the temporary ban on the central bank digital currency within the bill, saying it doesn’t go far enough.
While the bill passed on a massive 390-9 majority in the House back in February 2026, and in the Senate just earlier this month by an 89-10 vote, it is now back in the House due to the new revision in the bill, restricting corporations from buying single-family homes.
Now the House has to either accept the new revision, which is already receiving backlash from House Republicans, or change it to be sent back to the Senate for a second vote, to then be sent to the president.
Although with the new revision, economists still say it wouldn’t make much of a difference, suggesting that Wall Street only controls 1-3% of investors purchasing single-family homes.
Pushback from the House
A few House Republican members who are dissatisfied with the changes and may cause roadblocks with the re-vote are:
- Rep. French Hill (R-AR): The Chair of the Housing Financial Services Committee
- Rep. Richard McCormick (R-GA): Calling it “ridiculous overreach of the government” and “unconstitutional.”
- Rep. Keith Self (R-TX): Labeling the restriction as a “really socialist” policy that needs to be “stripped off”.
It also doesn’t help that Trump won’t sign any bill until the Save Act is brought to his desk, stating on a Truth Social post, “I, as President, will not sign other Bills until this is passed.”
Nonetheless, the bill is up for debate on the new changes. Furthermore, a recent White House report suggests that they are in favor of preventing Wall Street from buying homes.
However, Trump also wants to increase housing costs for homeowners because he believes protecting the equity of homeowners is more important than lowering costs.
Trump wants to focus on reducing mortgage interest rates, rather than making homes more affordable without lowering prices.
Why first-time homebuyers are in their 40s
A recent survey finds that the average first-time homebuyer is in their 40s, which, to be honest, shouldn’t be surprising. The consequences stem from a limited housing supply and fluctuating mortgage rates.
The housing supply shortage is particularly affected by the construction industry, with costs and labor increasing, likely due to the recent surge in ICE deportations, which has affected 90% of construction firms.
Location has also been an issue, however, not in the way many might expect. For years, new homebuyers have generally moved towards the metro areas due to work. This is on track with Gen-Z and Millennials.
Recently, with older generations, it’s no longer the case. After the pandemic, when remote and hybrid jobs increased, living in an expensive city seemed like a waste of money.
But corporations are targeting these same high-demand areas. Even as remote work has allowed older generations to move away from cities, corporations are stepping in to fill the gap—buying homes and converting them into high-priced rentals.
Therefore, apartments and home rentals are booming across the nation, with a high influx of people putting down security deposits, and landlords increasing rent to balance the housing market.
In a world
Hypothetically, if we had the money and manpower to build all these homes, where would they go? Location seems to be a driving factor for new homebuyers, with metro areas being a high target, but metro areas are running out of space to build new homes.
The second option would be moving towards more open land. For example, Kansas or Nebraska has large open acres and would be a great place to fill in an influx of housing.
However, no one would likely move in because of Kansas and Nebraska’s underdeveloped infrastructure and high risk for tornadoes. Many new homeowners would pass up the opportunity. It stands to reason that culture and environment play a major role in planting your roots.
Hope upon the horizon?
The bill could help millions and stop greedy corporations from taking the American dream. The only group that has an issue with it is House Republicans.
If this bill fails, it would not only be a major defeat for the people but also another defeat for Republicans who seem to favor corporations over their own constituents.
