Housing affordability remained a central issue in Washington this week, with congressional hearings, a special Housing Showcase event, fireside chats, and the introduction of new housing legislation all contributing to the increasing momentum for reform.

HUD Innovative Housing Showcase Highlights Market Solutions

• This week also marked the return of the Department of Housing and Urban Development’s (HUD) Innovative Housing Showcase on the National Mall in Washington, D.C., which ran from Sept. 6-10.
  
  
• The event featured model homes, manufactured and 3D-printed structures, and new building technologies aimed at reducing construction costs, expanding supply, boosting efficiency, and spotlighting public-private partnerships. (HousingWire, Sept. 5)
  
  
• Coinciding with the event, Rep. Mike Flood (R-NE), chairman of the House Financial Services Subcommittee on Housing and Insurance, and Rep. Emanuel Cleaver (D-MO) introduced the Streamlining Manufactured Housing Standards Act. (HousingWire, Sept. 10)
  
  
• The bipartisan bill seeks to remove regulatory uncertainty, preserve affordability, and promote manufactured housing as a scalable solution to the nation’s housing shortage.

Fireside Chat with Chairman Scott and Secretary Turner

• On Sept. 9, as part of the Housing Showcase, Senate Banking Committee Chairman Tim Scott (R-SC) joined HUD Secretary Scott Turner for a fireside chat to discuss housing priorities and the Renewing Opportunity in the American Dream (ROAD) to Housing Act. (Press release)
  
  
• Sec. Turner underscored the importance of working in coordination with the private sector. “Public-private partnerships are key to overcoming the housing issue we have in our country,” said Sec. Turner. “We want to do the best job we can from a HUD standpoint to work with our private-sector partners to bring about solutions for the American people.” (Watch Discussion)
  
  
• Meanwhile, Sen. Scott highlighted the ROAD to Housing Act as proof that Republicans and Democrats can come together on housing policy. “It started off as my bill, but it became our bill… We got every member on the left and every member on the right to have a piece of the pie.”
  
  
• The ROAD to Housing Act was unanimously approved by the Senate Banking Committee in July, and now awaits a vote in the Senate.

Industry Urges Cost-Effective Energy Policies at Hearing on Housing

• On Wednesday, the House Energy and Commerce Subcommittee on Energy held a hearing titled “Building the American Dream: Examining Affordability, Choice, and Security in Appliance and Buildings Policies,” to assess the impact of federal energy regulations on housing costs. (Watch hearing)
  
  
• National Association of Home Builders (NAHB) Chairman Buddy Hughes testified that restrictions on energy choice, appliance standards, and mandates on energy codes are making new homes less affordable for most buyers.

• “Our members are on the front lines of an affordability crisis. Seventy-five percent of households can't afford a median-priced new home, and half the renters in this country spend over 30 percent of their income on housing costs. New Washington mandates will only make this crisis worse,” said Hughes. (NAHB Testimony)

Looking Ahead

• The Federal Reserve will decide next week whether to reduce interest rates, which could bring much-awaited relief from elevated home borrowing costs. (Realtor.com, Sept. 11)

• Meanwhile, reports suggest that President Trump may declare a national housing emergency this fall. Treasury Secretary Scott Bessent confirmed that “everything is on the table.” (Fox News, Sept. 10 | Realtor.com, Sept. 10)

RER will continue to engage with policymakers and industry leaders to promote bipartisan legislation and regulatory reforms that expand the housing supply and improve affordability.