The U.S. House of Representatives approved an amendment to the 21st Century ROAD to Housing Act that removes a build-to-rent (BTR) sales provision that would have hurt affordability and reduced much-needed housing supply. According to the National Association of Home Builders (NAHB) and the Urban Institute, the measure would have cut rental housing supply by 40,000 to 72,000 units each year. It also would have displaced thousands of tenants annually, shrinking the rental market and putting further pressure on rents. NAHB led the push to remove the provision, which would have required purpose-built single-family rental homes to be sold within seven years.
In a time of severe housing shortages and affordability challenges, BTR remains one of the few market segments adding thousands of homes that would otherwise not be built.
“NAHB applauds the House for overwhelmingly approving the revised 21st Century ROAD to Housing Act with strong bipartisan support,” said Bill Owens, chairman of NAHB, home builder and remodeler from Worthington, Ohio. “Led by House Financial Services Committee Chairman French Hill and Ranking Member Maxine Waters, the package eliminates a forced-sale provision on rental housing that would have reduced supply, raises and indexes multifamily loan limits to help spur new apartment development and provides meaningful relief to community banks. We urge the Senate to move quickly to send a once-in-a-generation housing bill to President Trump to expand housing supply and address America’s housing affordability challenges.”
