A federal bill designed to help make housing more affordable could create the opposite effect, industry insiders say.
The 21st Century ROAD to Housing Act (Reauthorizing Opportunity, Accountability and Development) is a bipartisan legislative package aimed at lowering housing costs. The U.S. Senate passed its version and is awaiting approval of changes in the House.
"The bill is trying to increase housing supply but risks undercutting one of the fastest ways Phoenix is actually delivering units," said Adam Baugh, a land use and zoning attorney and partner at Withey Morris Baugh.
That fast way to deliver product, he said, is the wildly popular build-to-rent sector that started in Arizona and spread across the country, where single-family, detached homes are built within rental communities with shared amenities.
