Nebraska developer, home buyer hopeful bipartisan federal housing law will bring change

OMAHA, Neb. —

A major bipartisan housing bill, the 21st Century Road to Housing Act, became law over the weekend without the president’s signature. It aims to address frustrations in the housing market.

The law includes provisions to ease regulations around environmental reviews and building manufactured homes, while also limiting so-called mega investors.

Cindy Andrew, a real estate broker at Sit, Stay Homes, is especially pleased by the limits on mega investors.

“Sometimes it’s hard enough to find a buyer a house. And then if you’re competing against corporations, you have no chance,” Andrew said.

Shari Strong, who is launching “The Josh Place” to provide long-term housing for people in need, said the law will help people like her purchase homes and increase income limits so more people can qualify for the long-term chronic mental health support she aims to provide.

She said the bill is “going to make it a lot easier for a lot of people to qualify for long-term living. And they may be homeless right now just because of that one thing.”

Nebraska Rep. Mike Flood sponsored the bill, working with local developers, including Lincoln-based c.

Wayne Mortensen, the company’s vice president of development, said the changes are promising but noted uncertainty about how the federal Department of Housing and Urban Development will administer the new programs.

“We are kind of in a holding pattern until we figure out how, how they’re going to approach that work, but remain cautiously optimistic about the potential that this legislation has to improve housing,” Mortensen said.

Mortensen said the wide-ranging law could benefit both rural and urban areas.