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A massive federal housing law went into effect: What it means for WA
['Hana Kim']
Latest & Breaking News on Fox News on KCPQ
The Brief The federal 21st Century Road to Housing Act has taken effect, aiming to boost housing inventory by capping future corporate single-family home purchases at 350 and easing environmental and administrative regulations to speed up middle housing construction.
Experts state the law will not lower Seattle housing prices immediately due to high-earning tech workforce demand, though it will reduce institutional investor competition over the long term.
Local experts say the recently enacted 21st Century Road to Housing Act could help with Washington’s overall housing inventory, but the impacts will not be immediate.
The massive federal law, passed by Congress with bipartisan support, officially went into effect last week.
The law does not, however, require corporations to sell off their existing housing portfolios.