What Each Party Promises on Housing Affordability as Congress Hangs in the Balance

As they jockey for control of Congress in a tight midterm race, Democrats and Republicans have each made promises that their party will focus on housing affordability.Both parties have spent the year pushing messages about affordability, especially in housing. Homeowners are being hammered with higher insurance and property tax rates. Higher interest rates have frozen the housing market. And young people are overwhelmingly concerned about whether they'll ever own a home at all. With many close races, control of Congress could hinge on these concerns.Then there's the issue of how to implement laws Congress has already passed. The bipartisan 21st Century Road to Housing Act promises reforms in dozens of provisions aimed at cutting red tape and encouraging the construction of more homes. Congress will oversee the rollout of those new programs while also working with the final two years of the Trump administration—and the market will be looking to Washington for clarity.Jeff Holzmann, COO of Dallas-based real estate firm RREAF, tells Realtor.com® the industry needs clear rules to make long-term investment decisions. Broad rules such as the new ban on institutional investors in the hous...