Senate passes bill to lower housing costs and restrict Wall Street from buying homes

The bipartisan legislation was crafted in both chambers and must now pass the House. It seeks to build more homes and prevent large investors from outbidding families.

WASHINGTON — The Senate voted overwhelmingly Monday to pass a sweeping housing affordability bill aimed at lowering costs, putting Congress on the brink of a rare bipartisan victory in President Donald Trump’s second term.

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The vote was 85-5. Several senators missed the vote due to severe thunderstorms in the Washington area that led to a ground stop at Ronald Reagan National Airport.

The legislation, which would make it easier to build homes and slap limits on Wall Street investors’ buying up houses, now goes to the House, which hopes to vote on it in the next few days. Then, it would go to Trump’s desk to be signed into law.