The U.S. has a serious housing crisis—but for the first time in a while, there’s real movement in Washington that could actually help everyday buyers and renters, not just headline statistics.

What Just Happened In Congress (In Plain English)

Recently, the House of Representatives passed a bipartisan housing package called the Housing for the 21st Century Act by a huge 390–9 vote, and now it’s headed to the Senate. I’m happy about this because it’s one of the few times both sides of the aisle are agreeing that we need more homes, more affordability, and fewer hurdles for people who simply want a stable place to live.

The National Association of REALTORS® has been strongly backing this bill, and they’ve been clear: we’re short roughly 5 million homes nationally, and the average first‑time buyer age has climbed to about 40. That is not what “starter home in your 20s or early 30s” is supposed to look like.

How This Bill Could Actually Help Regular People

This package isn’t just another speech or slogan—it’s designed to make it faster and cheaper to build homes in real communities where families live and work. A few key ways it aims to do that:

• It helps communities tackle restrictive zoning and red tape that slow down new construction and keep prices artificially high.

• It streamlines environmental and permitting reviews so good, safe projects don’t sit in limbo for years while costs climb.

• It modernizes long‑standing federal housing programs, like HOME and Community Development Block Grants, so local governments can respond to today’s affordability realities instead of yesterday’s.

• It supports more “missing middle” housing—townhomes, small multifamily buildings, and modest condos that are often the true starter homes for younger buyers.​

For younger buyers who feel priced out, this isn’t about making housing “cheap.” It’s about giving you more options—more starter homes at realistic price points, more neighborhoods you can consider, and fewer bidding wars that spiral out of control. As more supply comes online, it can ease the pressure that’s been driving both home prices and rents higher for years.

Why This Matters If You’re A First‑Time Buyer

Right now, more than 75% of homes in many markets are considered unaffordable to the typical household, and a lot of Americans are roughly $30,000 short of what it takes to comfortably buy a median‑priced home. That’s a crushing gap, especially if you’re just starting your career, paying off student loans, or trying to raise a family.

This bipartisan housing package is a step toward closing that gap by:

• Encouraging more builders to focus on entry‑level and “missing middle” homes instead of only luxury product.

• Making it easier for local banks and lenders to support smaller, community‑focused housing projects.

• Pushing federal programs to better support first‑time and lower‑ to middle‑income buyers, not just those already deep into the market.

Will this bill magically fix everything overnight? No. But if it becomes law, it can shift the trajectory—from a market where many younger buyers feel they’ll “never” own a home, to one where starter homes are at least within reach with reasonable planning and support. That’s why I’m genuinely happy about this development.

What This Means For Local Communities

At the community level, more flexible zoning, more support for smaller‑scale development, and refreshed federal programs can mean:

• More starter‑friendly homes in neighborhoods near jobs, schools, and transit—not just far‑flung new construction.

• Better use of existing land—think duplexes, triplexes, and townhomes instead of only one house per large lot.

• More private and public investment in affordable and workforce housing, especially when tax credits and local grants can be leveraged together.

This isn’t just about selling houses; it’s about stabilizing families, building generational wealth earlier in life, and giving people more control over where they put down roots.

Our Promise: We’ll Watch This Closely For You

The House has done its part; now the bill moves to the Senate, where the details will be debated and blended with the Senate’s own housing package. There’s still work to do, and there will almost certainly be negotiations and changes before anything lands on the President’s desk.

My team and I will keep a close eye on how this bipartisan housing package progresses and what final version emerges. As things evolve, we’ll update our blog with what it really means for you:

• If you’re trying to buy your first place sooner rather than later.

• If you own already and are wondering how added supply might impact your equity and long‑term plan.

• If you’re a renter hoping for relief from rising rents and a clearer path to being an owner one day.

We have a large housing crisis in the USA—but for the first time in a long time, there is meaningful, bipartisan momentum aimed at boosting supply and improving affordability. I’m happy about that, and I’m hopeful that more communities will soon be able to afford true starter homes and overcome barriers to homeownership at a younger age.

If you have any real estate needs, I’m the realtor for you! You can always reach me at tracyYchan@gmail.com or my cell at 973-476-8097.

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