Two significant announcements in June provide some important information for the real estate industry to digest, as we continue to contemplate where the industry might be headed in the coming months and years.

On June 17, the Joint Center for Housing Studies of Harvard University released its State of the Nation’s Housing 2026 report. On June 22, the Senate approved the 21st Century ROAD to Housing Act, which was quickly followed by the House vote on June 23.

ROAD to Housing Act

In releasing the announcement of the bill’s passage, the U.S. House Committee on Financial Services Chairman French Hill (AR-02), outlined the problem and the proposed solution, saying, “To address the housing crisis, we must expand supply, including single-family and multifamily homes, apartment complexes, and other factory-built housing. The ROAD to Housing Act aims to alleviate this shortage by reducing unnecessary regulatory barriers to new home construction, modernizing HUD programs, and allowing banks to more freely deploy funding.”

The bill does deliver on many improvements industry organizations have lobbied for over the past two decades, and the legislation has received widespread support from both supporters and media.

But … and there is always a “but” … analysts are also quick to point out that it is just a starting point.

“The ROAD to Housing Act represents a genuine effort to strip away outdated federal rules and give local governments more room to build. Several of its provisions achieve this goal,” said Christina Mojica, Senior Policy Analyst at Reason Foundation in her commentary released on July 21. “ But for a bill of this size and ambition, too much of it follows a familiar pattern of expanding federal reach into a problem that has always been, and will always be, solved at the local level.”

Mojica reminds us in her commentary that the federal government moves slowly and the implementation of the elements of this legislation will take time and will require yet more approvals from Congress.

Meanwhile, it is up to local and state governments, community organizations and investors to change local antiquated regulations, apply for grants, create effective coalitions that respond to specific local needs, and yes, start building.

Meanwhile, the Harvard study examines more wide-ranging and systemic issues, noting it will take more than one piece of legislation to solve the complex problem of providing housing for a nation.

State of the Nation’s Housing

The Harvard study urges a multi-layered approach that goes beyond the current legislation and warns of the dangers of the current administration’s withdrawal from existing programs that have successfully met some housing needs.

“A concerted effort is needed from all levels of government, as well as the private and nonprofit sectors, to make meaningful improvements in affordability, housing stability, hazard mitigation, and retrofits for an aging stock,” the report concluded. “Federal withdrawal from other social safety net programs and disaster mitigation and recovery has left more gaps for state and local governments to fill. The threat of shutdowns and uncertainty about the status of programs and the flow of funds further disrupt the programs that keep people stably housed.”

On the upside, the report highlights successes, where local zoning reforms and building code changes have removed barriers, and where new funding modalities for mixed income development and public and private partnerships for low-income housing have provided innovations across the country that can be easily duplicated.

The solutions are there. The will to implementation must be there as well.

At FAN, we maintain the highest standards in providing title, escrow and closing services throughout Florida, and in addition, we are dedicated to protecting the integrity of the real estate transactions we manage. Contact us today to learn how we can help you with your next transaction.