WASHINGTON (AP) — The Senate passed a bipartisan housing bill on Monday that aims to reduce federal regulations and expand local control, one of the most sweeping efforts in recent decades to increase supply and bring down prices.
The bill, which passed 85-5 and now heads to the House, has been the focus of intense negotiations in recent weeks as lawmakers in both parties try to address housing costs in an election year. The final version of the legislation bans corporate investors from buying single-family homes but doesn’t include a Senate provision that would have required investors to sell newly constructed homes within seven years.
The measure was the result of years of work to “lower costs, expand housing supply, cut red tape, protect taxpayers, and help more Americans achieve the dream of homeownership,” said Senate Banking Committee Chairman Tim Scott, R-S.C., who worked with Democrats to get the bill passed.
Massachusetts Sen. Elizabeth Warren, the top Democrat on the banking panel, said it is the most significant housing bill to pass Congress since 1990, when the average home in America was sold for $150,000. Now it costs more than $500,000, she said.
The bill “acknowledges that the federal government has a role to play in lowering housing prices,” Warren told The Associated Press. “For the first time ever, private equity will be blocked from buying up single-family homes and trying to turn housing into one more Wall Street investment.”
Senate passage of the bill shapes up as a rare bipartisan legislative achievement when much of Republicans’ agenda has stalled. The House is expected to give final approval later this week and send the bill to President Donald Trump, who has signaled his support.
Democratic Rep. Maxine Waters of California, who helped negotiate the legislation, said it was a “huge step toward finally addressing the affordable housing and homelessness crises in this country.”
Housing costs are a concern for both parties
Republicans and Democrats have embraced the bill as a way to show they are addressing the nation’s affordability crisis, driven in part by rising home prices due to a shortage of affordable housing. The U.S. housing market has been in a slump dating back to 2022, when mortgage rates began to climb from pandemic-era lows.
Sales of previously occupied U.S. homes have been hovering close to a 4-million annual pace going back to 2023 — well short of the 5.2-million annual pace that’s historically been the norm. Sales slowed last year to a 30-year low and have remained sluggish so far this year, declining in January and February versus a year earlier.
The Economic Report of the President in April found a shortage of 10 million homes, while a report this month from the Joint Center For Housing Studies at Harvard University found sales of existing homes were at three-decade lows and inventories were rising due to high home buying costs. “Cost burdens for both renters and owners continue to climb, while assistance remains profoundly underfunded,” the report said.
While the median U.S. monthly rent has been declining for nearly three years, it was still 17.2% higher in May than it was before the pandemic, according to data from Realtor.com.
Changes for grants, Section 8 and manufactured housing
To increase the supply of housing, the bill would streamline environmental reviews and speed up the construction process.
It would offer funding to local governments that build more housing, including Community Development Block Grant money to places exceeding the median rate of homebuilding. It would also provide new dollars for communities to turn abandoned infrastructure into housing, and offers a framework for communities that want to reform outdated zoning regulations, which often limit larger housing developments.
The legislation would allow banks to invest more in affordable housing and raise limits on the number of public housing units that can receive private financing through Section 8 funding to rehabilitate properties. And it would remove outdated requirements and expand federal financing to make manufactured homes more affordable.
“Manufactured housing produces some of the most cost-effective housing in America, but access to financing has been tightly restricted,” Warren said. “This creates the opportunity for more manufactured housing and, at the same time, creates a structure for people living in manufactured housing communities to organize and protect their investment in their homes.”
Lawmakers compromised on a disaster program
One of the sticking points between the two chambers was over a federal disaster recovery program.
An earlier Senate bill had permanently authorized block grant recovery funds, a change intended to ensure that funding requests aren’t needed after every disaster. House lawmakers opposed that provision because of concerns over how the program was run, so they agreed on a three-year authorization instead.
The final bill has received widespread support in the housing community, both from organizations representing landlords and large property owners as well as groups that advocate for tenants and low-income renters.
“There is no magic wand that will fix this crisis overnight, and no single piece of legislation is perfect,” said David Dworkin, chief executive of the National Housing Conference, the nation’s oldest housing coalition.
“Compromise demands that. But this bill is a significant down payment on a long-term effort to make housing more affordable for all Americans.”
CAMP COUNTY — A crash that happened on U.S. Highway 271 Sunday afternoon left two siblings dead, after a vehicle collided head-on with an 18-wheeler in Camp County, officials say. According to Texas Department of Public Safety Sgt. Adam Albritton, troopers responded to the two-vehicle crash just south of the Titus County line at approximately 2:32 p.m. According to our news partner KETK, preliminary investigation found that a white Nissan Altima, driven by 16-year-old Gavin Brooks of Mt. Pleasant, was traveling northbound on Hwy 271 when the Nissan crossed over into the southbound lane and collided with a semi-trailer.
KILGORE – As the new Kilgore ISD High School nears completion, the district was awarded nearly $50k from Southwestern Electric Power Company (SWEPCO) on Monday for energy-saving initiatives recently installed on campus. According to our news partner KETK, the incentive donation follows the district’s installation of energy-efficient systems, including LED lighting and an advanced HVAC system. SWEPCO stated that the energy saved by these initiatives can power 30 East Texas homes for one year.
LONGVIEW – A man was arrested in Longview on Monday after he was involved in a crash on Mobberly Avenue that left a 44-year-old woman dead. According to the Longview Police Department, officers responded to a report of suspicious activity when they found a vehicle that was allegedly in a crash at around 12:30 a.m. When officers tried to make contact with the driver, he fled in the vehicle. Longview PD said he was later stopped and arrested for evading arrest with a vehicle.
NEW YORK (AP) — U.S. stocks drifted through a mixed day of trading on Monday after oil prices eased and falling Big Tech stocks weighed on Wall Street.


HAWKINS – Candidates running for Hawkins City Council seats informed voters a month ago that, if elected, they would deal with a number of issues, including the lack of a police department. They started the process of doing just that this month. Kayla Ross and her fellow council members unanimously decided to start accepting applications for the position of city police chief during her first full meeting as mayor on Monday night. That is the first step toward reviving the city’s police force, which was shut down a year ago by council members and former mayor Deb Rushing.
LINDALE – A firefighter from the Lindale Fire Department had surgery on Saturday after being struck by a burning tree that fell on him on Friday while they were responding to a call. Firefighters were dispatched to the 14000 block of County Road 496 at approximately 5:53 p.m. on Friday due to a reported burning tree, according to the Lindale Fire Department. A firefighter was struck in the arm when the tree suddenly collapsed while they were attempting to put it out. He received emergency care on the spot before being transported by ambulance to a nearby hospital. Garrett Rose was identified by the department as the injured firefighter. He will probably require another surgery in the future, according to a family friend.
PANOLA COUNTY – One man was shot and a woman was injured after she reportedly jumped from a vehicle that was involved in a pursuit near the Texas-Louisiana border in Panola County on Friday.