For years, much of the American Left has portrayed the housing crisis (rising rents, soaring prices, and falling affordability) as proof that markets fail at delivering basic needs. The remedies followed: rent control, vast public housing, and “social housing” schemes. Congress just delivered a different verdict.

The 21st Century ROAD to Housing Act, a merger of House legislation from Financial Services Chairman French Hill (R-AR) and Ranking Member Maxine Waters (D-CA) with a Senate bill from Banking Chairman Tim Scott (R-SC) and Ranking Member Elizabeth Warren (D-MA), passed the House 358-32 and the Senate by a similarly overwhelming margin. It now awaits the president’s signature.

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