Trump signaled Thursday he will not veto a landmark housing bill, calling it "fine" in comments to CNBC. The president acknowledged the legislation contains Democratic priorities he opposes but stopped short of blocking the measure.
"There's a lot of Democrat points in there. And I don't think they're good," Trump said. His reluctant endorsement suggests the bill has cleared a major hurdle in Congress. The legislation addresses housing supply, affordability, and construction barriers that have constrained the market for years.
The bill's passage would mark a rare bipartisan win on housing policy. Democrats pushed provisions aimed at increasing affordable units and streamlining permitting. Republicans backed measures to reduce regulatory barriers and accelerate development timelines. Both parties view housing as a voter priority heading into 2024.
For homebuyers, the bill could ease entry into markets by reducing construction timelines and development costs. Faster permitting and fewer regulatory delays typically lower housing costs over time. First-time buyers in expensive metros like San Francisco, New York, and Los Angeles would benefit most from increased supply.
Sellers gain through stronger demand as new housing units attract younger buyers and relocating workers. Markets with acute supply shortages stand to see price moderation if construction accelerates.
Landlords and property investors benefit from provisions removing barriers to multifamily development. Streamlined zoning rules and faster approval processes make new apartment buildings more profitable. Institutional investors like Blackstone and Brookfield have signaled strong interest in development opportunities once regulations ease.
Renters face mixed outcomes. New supply historically moderates rent growth, but construction timelines mean relief arrives slowly. Existing tenants may see short-term pressure as developers prioritize market-rate units. Affordability provisions in the bill target some relief through tax incentives for builders.
Trump's non-veto stance removes uncertainty that threatened to sink the bill.