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Congress has passed “the largest housing bill in decades” on Tuesday. Today’s show breaks down how this might help Americans.

“This is a step in the right direction. Now and then, you have people who listen,” Crowder said.

One of the most important points in this bill is that it bans investors from buying up single-family homes.

According to AHF:

Passed by the Senate a day earlier, the 21st Century ROAD to Housing Act brings together a wide range of provisions aimed at making housing more affordable and encouraging housing construction.

The final version of the bill contains key priorities for the affordable housing industry, including raising the public welfare investment (PWI) cap from 15% to 20%. This opens the door to banks increasing their investments in affordable housing.

One of the most debated points was around banning institutional investors from buying single-family homes. While the final version includes restrictions on institutional investor buyers, it removes some of the language that would have limited the development of build-to-rent properties, according to housing advocates.

“This is no small thing. $94,000 is baked into a fixed price for a home just through regulations and red tape. If you reduce that, and you reduce the hyper inflation because of institutional investors buying up these homes so they can jack up the prices, for example, in Atlanta and areas of Texas, this could drop the price of homes,” Crowder said. “If implemented correctly, without simply being a handout, without forcing banks to give out loans to people who can't pay them back, it is a way to approach it that is actually in line with your values and is actually America first.”

The bill also creates a funding stream to help first-time homebuyers, which is a little bit different than a handout. The next point is that it will make building homes more affordable while removing some red tape.

“Save up, be responsible with your finances, and let’s wait and see. I think this is going the right way,” Crowder said.