Tuesday, March 17, 2026

Senate Has Passed What Could Be the Largest Housing Package in Decades

The Senate has passed a sweeping piece of housing legislation ...

Posted by corky at 10:31 PM | 20 COMMENTS | permalink

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I'm proud to have delivered housing wins in the 21st Century ROAD to Housing Act that just passed the Senate. Â It's time we come together to get this bipartisan legislation across the finish line.

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-- Senator Andy Kim (@kim.senate.gov) Mar 12, 2026 at 1:20 PM

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"The 21st Century ROAD to Housing Act would be the largest housing package to be signed into law in decades. After passing the Senate by a vote of 89-10 on Thursday, the bill now heads to the House, where it faces an uncertain path despite the broad support it garnered in the upper chamber.

The House passed its own version of the legislation last month, but several lawmakers have voiced opposition to certain changes made by Senators, including a provision that would bar institutional investors from owning single-family homes."

;;

Barring corporations from screwing over families who want to buy homes?

Trump's House Republicans say, "Not on our watch!".

#1 | Posted by Corky at 2026-03-15 08:28 PM

@#1 ... including a provision that would bar institutional investors from owning single-family homes. ...

I see that around here.

Private equity (which has, imo, destroyed healthcare for their profits) seems to be buying up single-family homes in order to rent those homes out to Gen-Z.

There's a two-fold effect in that process...

1) a reduction of single-family homes that can be purchased by first-time home-buyers.

2) the resulting drastic increase in price of those fewer available homes that can be purchased.

Yeah, while the estimated resale price of my house has increased over 75% since 2020, I still have a concern for those who want to buy their first home.

I bought my first home when I was in my late-20's.

Is that possible nowadays?


#2 | Posted by LampLighter at 2026-03-15 08:42 PM

"bolster the U.S. housing supply"

How's that supposed to help?

There's literally millions of vacant houses in the United States right now.

Search Assist
As of 2024, there were approximately 15.1 million vacant homes in the United States, which represents about 10.3% of the country's housing inventory. This number has decreased significantly from nearly 19 million homes following the 2008 housing crisis.

#3 | Posted by snoofy at 2026-03-15 10:04 PM

@#3 ... How's that supposed to help?

There's literally millions of vacant houses in the United States right now. ...

At what cost to purchase compared to income of first-time home buyers? Maybe the asking price is a problem?

When I bought my house. the mortgage amount (with a 15% down payment) was between two- and three-times my household income.

What is the mortgage amount compared to household income nowadays?

Found this ...

Home Price-to-Income Ratio Reaches Record High (January 2024)
www.jchs.harvard.edu

... In 2022, the median sale price for a single-family home in the US was 5.6 times higher than the median household income, higher than at any point on record dating back to the early 1970s. ...

As the interactive shows, home prices have soared relative to incomes in a growing number of metro areas. Indeed, among the 100 largest markets in the country, 48 had a price-to-income ratio exceeding 5.0 in 2022, including seven markets with a price-to-income ratio above 8.0.

By comparison, 15 markets had price-to-income ratios above 5.0 as recently as 2019 and just five markets had ratios that high in 2000 (Figure 2). With the rapid rise in prices since the beginning of the pandemic, price-to-income ratios have reached all-time highs in 78 of the nation's 100 largest markets.

Only Syracuse had a price-to-income ratio under 3.0 among large markets in 2022. Price-to-income ratios that low were the norm across much of the country in prior decades.

Indeed, fully two-thirds of large markets had price-to-income ratios below
3.0 as recently as 2000. ...


#4 | Posted by LampLighter at 2026-03-15 11:59 PM

"Maybe the asking price is a problem?"

Real estate inflation significantly outpaces wage inflation for decades.

Companies like BlackRock can buy a house with no intention of selling it for decades.

#5 | Posted by snoofy at 2026-03-16 01:00 AM

#2 | Posted by LampLighter

Private equity did the same thing here, dramatically raising single family home prices ... for renters too.

#6 | Posted by AMERICANUNITY at 2026-03-18 12:10 AM

@#6 ... Private equity did the same thing here, dramatically raising single family home prices ... for renters too. ...

So I ask again...

I bought my first home when I was in my late-20's.

Is that possible nowadays?

#7 | Posted by LampLighter at 2026-03-18 12:23 AM

"Even if the Senate-passed bill makes it to Trump's desk, the President has vowed not to sign any legislation until..."

Doesn't matter if he doesn't sign it. It automatically becomes law in 10 days if he doesn't sign it. It only matters if he vetos the bill and there are enough votes in the senate to easily override the veto. The only body that block this bill now is the House and that's not going to happen unless House Republicans are in near unanimous opposition. If they block this bill they will be hung with it in November when Democrats will be telling Millennials and Gen Z how Republicans voted to keep home ownership out of reach for average Americans.

#8 | Posted by johnny_hotsauce at 2026-03-18 12:30 AM

So I ask again...

I bought my first home when I was in my late-20's.

Is that possible nowadays?

#7 | Posted by LampLighter

Not unless you have a high paying job. Otherwise, how would a 20-something be able to afford a $2k/month mortgage, homeowner insurance, property taxes and afford any day to day necessities?

#9 | Posted by AMERICANUNITY at 2026-03-18 12:36 AM

PS - I bought my first house when I was 26. Never had to scrabble to make payments and afford all the other expenses of life. life was much more affordable then.

I, like tens of millions of others, benefited from the $0 down, first time home buyer loan, which are still available. However, with prices now so high in any decent area, that pushes up the monthly nut beyond what I'd imagine a 20-something can afford. Unless they take in roommates, have a spouse, etc etc.

#10 | Posted by AMERICANUNITY at 2026-03-18 12:40 AM

@#10 ... benefited from the $0 down, first time home buyer loan, ...

I traveled he 15% down route.

At the time (late 1970's) the mortgage interest rate I had to pay was 12%.


#11 | Posted by LampLighter at 2026-03-18 12:46 AM

#11 | Posted by LampLighter

FHA $0 loans for first time home buyers allow people to put down what they have.

Nowadays, with the average house at $350,000, someone in their 20's is going to be hard pressed to save 10 or 15% for a down payment. Especially if they have student loans. Most in their 20's would probably need a degree in order to earn enough income to qualify for a $1800-2000/mo note. Sure, some vocational jobs like plumber, welder, etc might be able to qualify in their 20's.

#12 | Posted by AMERICANUNITY at 2026-03-18 04:05 AM

0 down loans, not $0 loans lol

#13 | Posted by AMERICANUNITY at 2026-03-18 04:06 AM

I am now old and very cynical...my parents' generation, the WWII folks, worked hard, and could often afford to buy a small house on one salary. But the leap in home prices has meant that those of us on the bottom third of the economic pyramid just could never save enough to afford housing, and in practical terms, I don't see this legislation doing much of anything. Hope I am wrong.

#14 | Posted by Hughmass at 2026-03-18 06:52 AM

...WWII folks...could often afford to buy a small house on one salary.
#14 | Posted by Hughmass

A house that would be totally unacceptable to today's buyers. No AC, tiny kitchen with Formica counters and no dishwasher. 3 tiny bedrooms and only one bath. ETC.

#15 | Posted by TFDNihilist at 2026-03-18 07:08 AM

"a provision that would bar institutional investors from owning single-family homes."

Sounds unconstitutional. Or at least it will be by the time Dubbya/Trump's SCOTUS gets done with it.

Ralph Nader/Jill Stein 2028!

#16 | Posted by censored at 2026-03-18 09:00 AM

3 tiny bedrooms and only one bath. ETC.
#15 | Posted by TFDNihilist

They're still out there. 3.1% of new homes are being built with just 1ba. Guessing 1br 1ba condos.

According to The Census Bureau's 2021 Survey of Construction (SOC), 96.9 percent of new homes had more than one bathroom. www.bobvila.com

#17 | Posted by snoofy at 2026-03-18 09:03 AM

Is that possible nowadays?
#7 | Posted by LampLighter

Depends on where you are.

In a major metro? Unlikely.

In a small town? Much more likely.

A quick look on Zillow shows homes for sale in my hometown in the range of $150,000 to $250,000 whereas homes for sale where I currently live are $550,000 to $1 million plus.

Good luck getting a good paying job in my hometown, though. If you do, you can live like a king.

#18 | Posted by jpw at 2026-03-18 10:00 AM

Another issue around by us is the local townships that require a minimum of 1,650 sq' home on 3 acres just so the tax base is higher.

If the houses were affordable they would lose money.

#19 | Posted by bat4255 at 2026-03-18 11:27 AM

I think institutional buyers should be limited on the number of single family homes they can own. That said, there is a significant slice of the populace that should not be home owners. They simply aren't responsible/motivated enough to take care of such property. Or they flat don't realize how much all of the hidden expenses are going to cost them. It isn't just the principle, interest, taxes and insurance.

#20 | Posted by Whatsleft at 2026-03-18 12:09 PM

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