“The bill contains a number of provisions designed to lower costs and boost housing supply. Among them are initiatives to change manufactured home requirements to lower their costs, simplify environmental review processes for small building projects, and tie certain state and local government grants and funding to housing production goals.
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While the portions of the bill designed to encourage building and unlock new housing funding have broad support, one section of the package could prove deeply divisive.
That provision prohibits many large investors from buying single-family homes and requires others to sell off rental home holdings to individuals after seven years. It has drawn concerns that the rules could end up worsening the housing shortage, especially for rentals, by discouraging future investment in the burgeoning build-to-rent business.
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The bill now heads to the House, where conservative Republicans have raised objections to a variety of provisions, and divisions between the two chambers could lead to an acrimonious amendment process in the weeks ahead.”