The 21st Century ROAD to Housing Act is a far-reaching statute with big implications for the future of housing in America. The bill has a level of bipartisan support rarely seen in modern Congress, passing through both the House of Representatives and the Senate by wide margins.
And while Trump previously called on Congress to pass the bill, calling it “the most comprehensive and consequential housing legislation in the history of our country,” the president abruptly canceled plans to sign the bill in late June.
On July 10, as a 10-day constitutional clock times out, the bill is poised to become law at midnight.
This massive legislation enacts many changes, from a ban on institutional investors buying up the nation’s housing stock to relaxed regulations on manufactured housing. Here’s what consumers should know about the bill and what might happen if the president refuses to sign it.
Housing Bill to Become Law Without Trump’s Signature
The 21st Century ROAD to Housing Act is currently on the president’s desk, but Trump is withholding his signature as a form of protest, he said in a post on Truth Social Friday.
The president is refusing to sign the bill because Congress hasn’t passed the SAVE America Act, a contentious bill that imposes restrictions on mail-in ballots and mandates photo identification in federal elections in an effort to prevent noncitizen voting. However, citizenship is already a requirement to vote.
Even with Trump refusing to sign the bill, it can still become law under the .
A bill that has been passed by Congress can become law 10 days (excluding Sundays) after being presented to the president. House Speaker Mike Johnson delivered the housing bill to Trump on June 29.
If the bill becomes law at midnight, it represents one of the most significant bipartisan efforts to address the housing market in years.
The 21st Century ROAD to Housing Act: What’s Packed Inside the Bill?
To read and fully comprehend the text of , you would probably benefit from a law degree. For the average consumer’s purposes, here are a few of the most significant pieces of the legislation:
A Ban on Corporate Investors Buying Single-Family Homes
“Covered large institutional investors,” defined as those that control 350 or more single-family homes, cannot purchase additional single-family homes. Violators face a fine of up to $1 million or three times the property’s price. However, it’s important to note that institutional investors only own about 2% of the single-family rental housing stock nationally, according to the The percentage is much higher in some cities, particularly in the Southeast.
Increased Access to Small-Dollar Mortgages
The bill establishes a four-year pilot program aimed at making of less than $100,000 more viable to lenders and borrowers. That includes direct payments from the Department of Housing and Urban Development to lenders to encourage small-dollar lending.
Establishing a Federal Mandate for Appraisal Disputes
Currently, there’s no standardized process for reconsiderations of value, or ROVs, when an appraisal comes in lower (or higher) than expected. The bill establishes a strict requirement that the major housing agencies must implement. Like many of the bill’s changes, however, this only applies to government-insured mortgages.
Higher Loan Limits on FHA-Insured Mortgages for Multifamily Properties
This measure is designed to promote more building — and thus, increase housing supply — by increasing the amount developers can borrow to construct high-density housing. Before this legislation, the baseline caps on FHA hadn’t been updated by Congress since 2003.
Relaxing Regulations on Manufactured Homes
In another effort to boost housing supply, the bill removes a rule requiring to be built on a steel frame known as a “permanent chassis.” By removing the chassis requirement, the bill eliminates a cost barrier and allows for denser vertical construction of manufactured homes — something made possible by improving technology.
“The legislation makes important improvements that will enable homebuilders and communities to improve housing supply and ultimately housing affordability,” says Danielle Hale, chief economist at Realtor.com, in a statement.
Again, this is only a fraction of what’s included in the bill. The Bipartisan Policy Center, a nonprofit think tank founded in 2007 by former Senate majority leaders, into what’s included.
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How a Bipartisan Alliance Advanced This Major Housing Bill
In an attempt to mitigate the housing affordability crisis, the Senate drafted the ROAD to Housing Act. “ROAD” stands for Renewing Opportunity in the American Dream.
The legislation was introduced by Republican Sen. Tim Scott of South Carolina in September 2025. The bipartisan bill was co-written by Democratic Sen. Elizabeth Warren of Massachusetts. Scott is the chairman of the Senate Banking Committee and Warren is a senior member.
At the same time, the House was working on the Housing for the 21st Century Act, introduced in December 2025 by Republican Rep. French Hill of Arkansas and Democratic Rep. Maxine Waters of California, both of whom serve on the House Committee on Financial Services.
The Senate passed the original iteration of the ROAD to Housing Act and sent it to the House, where it spurred negotiations between both chambers of Congress and the White House. This led to a compromise amendment that combined the bills into the 21st Century ROAD to Housing Act in early March 2026.
The bill lingered until late May as lawmakers worked to revise language that industry trade groups, including the Mortgage Bankers Association, said would have prohibited growth in the housing sector. Most notably, the version of the bill that the House passed on May 20 removed language that restricted built-to-rent housing, requiring large investors to sell off newly built homes within seven years.
With those revisions, the bill now has the support of key players in the housing industry.
“Enactment of these reforms would expand housing opportunities, lower costs, help more Americans achieve and sustain homeownership, and support a healthier, more affordable rental housing market for families across the country,” MBA President Bob Broeksmit says in a statement.
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Update 07/10/26: This story was previously published at an earlier date and has been updated with new information.
