A significant housing bill, the 21st Century Road to Housing Act, is set to become law at midnight without President Donald Trump's signature. Despite broad bipartisan support in Congress, Trump has refused to sign the legislation, calling it a "big yawn" and linking his approval to the passage of a stalled voter ID bill, the SAVE America Act.

The housing bill aims to increase home affordability by encouraging home construction through over 40 provisions. It includes measures such as capping the number of single-family homes large investors can acquire, encouraging manufactured home construction by removing the permanent chassis requirement, and creating grant programs for communities that expedite building.

While hailed by lawmakers as a major step forward, the bill's impact on the housing market may be limited. Local zoning laws and market conditions, including high material and labor costs, are seen as more influential factors. Home prices remain high, with the median existing home costing $440,600 in June, making affordability a persistent electoral issue.

This legislation's automatic enactment highlights a legislative stalemate driven by presidential demands. Investors and builders will monitor how provisions, such as the investor cap and incentives for homebuilding, influence market dynamics, though significant affordability improvements are not expected for several years.