It’s a rare thing for everyone in Washington to agree on anything these days, but it’s undeniable that the cost of housing has become untenable. Homeownership is considered out of reach for millions of Americans, with renters increasingly being priced out of major cities. To paraphrase a sage from over two decades ago: The rent and mortgages alike are too damn high around the country.
For the last several months, a bipartisan push has been underway in Congress to change that — with full backing from the White House. The Senate passed a bill in March that President Donald Trump has urged the House to pass without changes. But the one thing that could potentially grind the whole process to a halt is a divide over how much to rein in corporate investors buying up housing stock. It’s a gap that will have to be bridged before a new construction boom can begin to finally relieve the pressure that’s been building on renters and owners alike for years.
Trump’s been narrowly focused on the demand side of the housing market, looking for ways to help potential homeowners borrow and otherwise finance their purchases. As with many of his supposed priorities, though, there’s been more posting than action from the White House on the housing front.
This is a preview of Hayes Brown’s latest column. Read the full column here.
