A bipartisan group of U.S. lawmakers and housing industry leaders convened at a Congressional Build America Caucus event to address the nation's escalating housing supply and affordability crisis. The discussion, which featured representatives from the National Association of REALTORS® (NAR), focused on collaborative strategies to overcome development barriers and increase the availability of homes across the country.
The forum highlighted a growing consensus on the need for federal action to support new construction and reduce regulatory obstacles. Panelists emphasized that solving the housing shortage is fundamental to sustaining long-term economic growth and stability for American families.
Key Takeaways
- A bipartisan Congressional caucus hosted a panel with housing experts to find solutions for the U.S. housing supply shortage.
- Key issues identified include restrictive zoning laws, complex regulations, and persistent labor shortages in the construction sector.
- Proposed legislative solutions include the ROAD to Housing Act, which aims to streamline development and support homeownership.
- Panelists also supported protecting the Low-Income Housing Tax Credit and passing the Neighborhood Homes Investment Act.
- The National Association of REALTORS® stressed the importance of public-private partnerships to increase housing inventory.
A Bipartisan Push for Housing Solutions
The Congressional Build America Caucus organized the event to foster dialogue on one of the most pressing economic issues facing the nation. The meeting was hosted by Caucus Chair Josh Harder (D-Calif.) and Representative Laura Friedman (D-Calif.), demonstrating a shared commitment to tackling the problem from both sides of the aisle.
A diverse group of policymakers attended, including Reps. Mike Quigley (D-Ill.), Jeff Hurd (R-Colo.), Chuck Edwards (R-N.C.), Celeste Maloy (R-Utah), Jim Himes (D-Conn.), George Whitesides (D-Calif.), Ritchie Torres (D-N.Y.), and Scott Peters (D-Calif.).
Key Voices from the Housing Industry
The panel featured prominent figures from organizations directly involved in the housing market. Bryan Greene, vice president of policy advocacy for the National Association of REALTORS®, provided insights from real estate professionals who witness the crisis daily.
Other experts included Mike Kingsella, CEO of Up for Growth; Lake Coulson, senior vice president of government affairs for the National Association of Home Builders (NAHB); and Alex Armlovich, a senior housing policy analyst at the Niskanen Center. Their collective presence underscored a united front from various sectors of the housing industry.
The Scope of the Housing Shortage
According to industry analyses, the United States has a housing deficit estimated to be in the millions of units. This shortage drives up prices for both renting and buying, making it difficult for many Americans, particularly first-time buyers, to find affordable places to live. The issue affects urban, suburban, and rural areas alike.
Identifying the Core Problems in Development
Panelists at the caucus event agreed that a combination of factors contributes to the slow pace of new housing construction. These obstacles create a significant bottleneck that prevents supply from meeting overwhelming demand.
The primary challenges discussed were:
- Restrictive Zoning Laws: Many local ordinances limit the types of housing that can be built, often favoring single-family homes over denser, more affordable options like duplexes or apartment buildings.
- Burdensome Regulations: Complex and lengthy approval processes, along with extensive environmental reviews for housing projects, can add significant time and cost to development.
- Ongoing Labor Shortages: The construction industry continues to face a shortage of skilled workers, which slows down building timelines and increases labor costs.
These issues, the experts argued, are not isolated but are interconnected, creating a challenging environment for developers aiming to build affordable housing at scale.
Legislative Pathways to Affordability
A significant portion of the discussion centered on specific pieces of legislation designed to address the housing crisis. The panelists highlighted several bills that they believe could make a substantial impact if passed.
The ROAD to Housing Act
The Revitalizing Our American Downtowns (ROAD) to Housing Act was presented as a comprehensive package with multiple provisions. Its key components aim to:
- Build More Homes and Cut Red Tape: The act proposes grants for communities that increase their housing supply and helps streamline environmental reviews for certain housing projects.
- Open Doors to Homeownership: It seeks to remove barriers to obtaining smaller mortgages, improve the appraisal process, and help families save for a down payment. It also ensures military veterans are aware of their home loan benefits.
- Support Housing Innovation: The legislation would update financing rules for manufactured and modular homes, encouraging new technologies that can lower construction costs.
- Aid in Disaster Recovery: It would authorize permanent disaster recovery programs to help communities rebuild more resiliently, reducing future losses and maintaining insurability.
Other Key Legislative Proposals
In addition to the ROAD to Housing Act, the panel voiced support for other critical initiatives. They stressed the importance of protecting the Low-Income Housing Tax Credit (LIHTC), a vital tool for financing affordable rental housing. Other supported bills include the Neighborhood Homes Investment Act, which would use tax credits to encourage private investment in rehabilitating homes in distressed communities, and the More Homes on the Market Act, aimed at incentivizing longtime homeowners to sell their properties.
Industry Perspectives and Future Outlook
Bryan Greene of the NAR emphasized that real estate professionals are uniquely positioned to understand the real-world effects of the housing shortage. He reaffirmed his organization's dedication to finding workable solutions through policy advocacy.
“There is a lot of room for opportunity when it comes to addressing housing affordability. NAR’s members are on the front lines of this crisis every day, and we know the importance of public-private collaboration to get shovels in the ground,” Greene stated. “We’re glad to see leaders from both parties taking this seriously and inviting agents who are REALTORS® to be part of the solution.”
The event, part of an ongoing speaker series by the Build America Caucus, signaled a strong political and industry-wide commitment to addressing the housing crisis. The consensus among participants was clear: a combination of deregulation, federal support for infrastructure, and incentives for innovation is necessary to build enough homes for all Americans.
The continued collaboration between lawmakers and industry experts is seen as a critical step toward implementing effective policies that can meaningfully increase housing supply and restore affordability in markets across the United States.
