The 21st Century ROAD to Housing Act: What‘s in It & What‘s Next? | RECAP

Research evidence excerpt

The 21st Century ROAD to Housing Act: What‘s in It & What‘s Next? | RECAP

Global | Washington Strategy July 10, 2026

The 21st Century ROAD to Housing Act: What's

in It & What's Next? | RECAP

We spoke with Pete Carroll of Cotality on the 21st Century ROAD to Housing

Act (see here & here). KTs: 1) Likely becomes law today; 2) Materially

supports supply-side expansion, focused on low-to-mid income housing; 3)

Key provisions: institutional investor ban (2-yr exemption), NEPA streamlining,

manufactured housing modernization, community bank deregulation, and

state/local incentives; 4) Prohibits CBDC issuance through 2030. PPTs attached.

1) The 21st Century Road to Housing Act will likely become law. The 375-page bill passed the

House 358-32 and the Senate 85-5, with ~90% voter support. Speaker Johnson delivered it to the

President on July 1, starting a July 10 signing clock. If he takes no action, the supermajority means

it becomes law anyway.

2) The bill marks a decisive federal pivot from demand-side subsidies to supply-side expansion.

Four provisions carry the most weight: institutional investor ban, NEPA streamlining, manufactured

housing modernization, and community bank deregulation. Together they could unlock 0.5-1mn

incremental units over the next several years, concentrated in undersupplied regions and the

50-100% Area Median Income segment where inventory is thinnest.

Key provisions:

Institutional Investor Ban. Prohibits owners of 350+ single-family homes from further•

acquisitions. Covered: single-family rental (SFR) detached, duplex, semi-detached. Exempt:

built-for-sale, built-to-rent, renovate-to-rent, Department of Housing and Urban Development

(HUD)-compliant manufactured, and senior housing. Existing portfolios are grandfathered, and