Congress has sent a significant bipartisan housing package, the 21st Century ROAD to Housing Act, to President Donald Trump for his signature, following overwhelming support in both the House and Senate [1]. The bill contains nearly 60 provisions from both parties, aiming to make it easier to build homes and help younger Americans purchase their first homes. Notably, the legislation includes a ban on hedge funds buying up housing stock, a measure Trump advocated for during the State of the Union earlier this year [1].
Despite the broad bipartisan backing, President Trump has delayed signing the bill, opting not to attend the scheduled signing ceremony with House Speaker Mike Johnson and Senate Majority Leader John Thune [1]. Trump’s hesitation is linked to his desire to leverage the situation to push for the Safeguarding American Voter Eligibility (SAVE) America Act, which currently lacks sufficient support in the Senate [1]. Trump downplayed the importance of the housing bill, stating, "It's so unimportant … compared to the SAVE America Act," and described the housing bill as "a yawn" in comparison [1].
Senator Elizabeth Warren, a key architect of the bill alongside Senator Tim Scott, criticized Trump’s delay, arguing that if he cared about the American people, he would have already signed the bill [1]. The bill is positioned as a measure to prevent America from becoming a "nation of renters" and to address housing affordability ahead of the midterm elections [1].
If Trump does not sign or veto the bill within 10 days, it will automatically become law unless Congress adjourns completely, in which case a pocket veto could occur [1]. Congress has previously overridden Trump’s vetoes, as with the National Defense Authorization Act in early 2021 [1].
CONCLUSION
The bipartisan housing bill represents a rare moment of cross-party cooperation aimed at addressing housing affordability and supply. However, President Trump's reluctance to sign the bill, as he seeks leverage for unrelated legislation, introduces uncertainty about its immediate future. The market is watching closely, as the bill's provisions could have significant implications for the housing sector if enacted.