Bipartisan Congressional Real Estate Caucus Endorses Latest House Version of the 21st Century ROAD to Housing Act

Today, the bipartisan Co-Chairs of the Congressional Real Estate Caucus, Reps. Mark Alford (MO-04), Lou Correa (CA-46), Tracey Mann (KS-01), and Brittany Pettersen (CO-07), issued the following statement endorsing the latest version of the 21^st Century ROAD to Housing Act from House Financial Services Committee Chairman French Hill and Ranking Member Maxine Waters.

"As bipartisan Co-Chairs of the Congressional Real Estate Caucus, we have been clear from the start: any housing package must address our nation's housing affordability crisis," said Alford, Correa, Mann, and Pettersen. "We are grateful to House Financial Services Committee Chairman French Hill and Ranking Member Maxine Waters for delivering bipartisan legislation to do exactly that. Last month, we led a letter signed by 76 Members of Congress outlining our serious concerns with Section 901-the ban on build-to-rent-in the Senate's 21st Century ROAD to Housing Act. Chairman Hill and Ranking Member Waters' bill adequately reforms this provision, while delivering on our shared commitment to restoring access to the American Dream of homeownership. We are proud to endorse the latest House version of the 21st Century ROAD to Housing Act."

Last month, the Real Estate Caucus Co-Chairs led a letter signed by 76 Members of Congress urging House leadership to strip or revise disastrous provisions to ban Build-to-Rent homebuilding from the Senate's ROAD to Housing Act before any final, negotiated package comes to the floor for a vote because they would undermine efforts to address our nation's housing supply and affordability crises.

Background on the Real Estate Caucus:

With 135 members, the Congressional Real Estate Caucus provides an informal, bipartisan opportunity to educate Members of Congress on real estate issues, to advocate for bipartisan solutions, and to facilitate engagement between Congress, industry, and other stakeholders.

Real estate represents 16% of U.S. GDP, supports 2.8 million jobs, and generates $50 billion in tax revenue. Given its importance, the Caucus advocates for policies that will allow this industry to prosper.

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