economy
March 12, 2026
Less regulation, not more, will lower housing prices
Partly because of the mass deportation of, and self-deportation by, illegal immigrants, rents are falling in most markets across the country. This is a good thing, but most people don’t dream of renting; they dream of owning a home. It has never been more difficult for young people to buy their first home and get on the ladder. The House recently passed legislation that helps address this problem, but the Senate version of the bill, released last week, adds just as much red tape to the housing market as it takes away, potentially making the problem worse.
TL;DR
- Rents are falling due to a decrease in illegal immigration, but homeownership remains difficult for young people.
- The median age for first-time homebuyers has increased significantly, and the number of first-time buyers has decreased.
- The U.S. is experiencing a shortage of 3 to 8 million homes.
- The Senate's 21st Century ROAD to Housing Act aims to streamline regulations for manufactured housing and HUD projects.
- The House's SPEED Act offered more substantial regulatory reform for the housing market.
- The Senate bill includes an incentive program for counties that build more homes but has loopholes.
- New mandates forcing builders to sell rental homes after seven years are seen as a direct attack on new construction.
- Addressing the housing shortage requires significant regulatory reform to encourage building.
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