Take Me Home, Country ROADs: First Takes on the ROAD to Housing Act

Research evidence excerpt

Take Me Home, Country ROADs: First Takes on the ROAD to Housing Act

Idea

June 26, 2026 08:59 PM GMT

Morgan Stanley & Co. LLCMUS Housing, US Public Policy, Munis, Agency MBS, James Egan

Residential REITs, Mortgage Originators | North Strategist

America James.F.Egan@MorganStanley.com +1 212 761-4715

Mark T Schmidt, CFA

Strategist

Mark.Schmidt1@morganstanley.com +1 212 296-8702

Take Me Home, Country Ariana Salvatore

Equity Strategist

Ariana.Salvatore@morganstanley.com

ROADs: First Takes on the Jay Bacow

Jay.Bacow@morganstanley.com +1 212 761-2647

ROAD to Housing Act Adam Kramer

Equity Analyst

Adam.Kramer@morganstanley.com +1 212 761-4623

The 21st Century ROAD to Housing Act has been approved by Jeffrey Adelson, CFA

Congress and is awaiting President Trump's signature. We walk Equity Analyst

Jeff.Adelson@morganstanley.com +1 212 761-1761

through the broader implications from the Housing and Policy Janie Xue

angles, and take a more granular look at MBS, Munis, Residential StrategistJanie.Xue@morganstanley.com +1 212 761-6051

REITs, and Mortgage Originators. Derrick Metzler

Research Associate

• The US Housing market is a complicated system with no single solution to Derrick.Metzler@morganstanley.com +1 212 761-3366

Ben Bayanfar

the current affordability or supply challenges. Several sections of the 21st Research Associate

Century ROAD to Housing Act seek to alleviate regulatory and other Ben.Bayanfar@morganstanley.com +1 212 761-0649

Joseph Leeman pressures that have weighed on new home supply, while others attempt to

improve access to mortgage credit. We think the impact of these changes Joseph.Leeman@morganstanley.com +1 212 761-4381

should be incrementally positive for demand and, depending on

implementation, potentially more positive for supply, but those changes will