US House to vote on housing bill aimed at increasing supply and lowering prices

The U.S. House is expected to vote Tuesday on a housing bill that aims to bring down home prices and increase supply. The bill passed the Senate on Monday. It would loosen regulations to encourage more home construction, open up funding to convert abandoned buildings into new housing, and ban Wall Street investors from buying single-family homes so those homes can instead be sold to families. A report from the federal government found a nationwide shortage of 10 million homes. A report this month from the Joint Center for Housing Studies at Harvard University found sales of existing homes were at three-decade lows and inventories were rising due to high home-buying costs. The report says, “Cost burdens for both renters and owners continue to climb, while assistance remains profoundly underfunded.” (Photo by Bonnie Cash/Getty Images)