Congress Has Another Chance to Pass the Neighborhood Homes Investment Act

Today, about 1.3 million homes are available on the market compared to the 4 million in 2007. America is facing a serious housing shortage that demands immediate solutions to increase the supply of available, affordable homes.

Right now, there is bipartisan legislation that, if passed, would expand access to homeownership in communities that need it most. Reintroduced this March and cosponsored by Sens. Todd Young (R-IN), Ron Wyden (D-OR), Jerry Moran (R-KS) and Sherrod Brown (D-OH), the Neighborhood Homes Investment Act (NHIA) would create 500,000 available homes to help close the supply-demand gap for moderately-priced housing.

Last year, The Alliance amplified voices across America to put pressure on Congress to pass the NHIA in year-end legislation. Our campaign resulted in 1,086 individuals taking action, leading to a total of 4,170 interactions with members of Congress via an email or tweets. Though the NHIA did not pass in 2022, it is back on the table this year and we’re encouraging Americans once again to advocate for this crucial pro-housing policy.

What is the Neighborhood Homes Investment Act?

The NHIA would create new incentives to develop and renovate family homes—a critical solution to address the severe shortage of middle-income housing. This solution helps close the gap in housing supply and demand while also strengthening communities.

The passage of this solution will support multiple sectors of the economy by spurring billions of dollars in development activity, wages and salaries, and federal, state and local tax revenues. It also supports upwards of 33,000 construction- and construction-related jobs.

Why It’s Time for Action

Across the country, empty or poorly maintained homes contribute to declining property values. In many neighborhoods, it often costs more to build or renovate a house than what the property would sell for. Instead of abandoning these homes altogether, the NHIA would provide builders with the tools they need to bring more affordable homes to the market.

Homebuyers deserve a pathway to sustainable homeownership and neighborhood stability. By passing the NHIA, we are one step closer to achieving just that.

This pro-housing policy can help improve access to affordable homes in your community and across America. Right now, we can amplify our voices to make sure the new Congress hears us loud and clear.

The Alliance is here to help current and future homeowners access a property that meets their needs, and to help you navigate the decisions that are still on the table to do so.

As Americans face economic uncertainty, we must protect the rights of current property owners and ensure access to ownership opportunities for potential buyers.