Congress advances legislation to lower housing prices
On March 11, 2026, the U.S. Congress advanced legislation to encourage more affordable housing. The bill, which has drawn broad support from industry groups, would overhaul regulations to make it faster and cheaper to build new housing. It would also modernize rules for factory-built housing and ban large investment groups from buying more single-family homes.
According to Harvard University’s Joint Center for Housing Studies, home prices have risen 60% since 2019 and the median price of a single-family home in 2024 reached five times the median household income, well above the ratio widely considered to be affordable. The latest version of the legislation, which would aim to boost affordability, is spearheaded by Senators Tim Scott of South Carolina and Elizabeth Warren of Massachusetts.
