TENNESSEE - Recently, the U.S. House Committee on Financial Services, Subcommittee on Housing and Insurance held a hearing titled ‘Housing Affordability: Governmental Barriers and Market-Based Solutions.’ This important meeting discussed the challenges many people face in finding affordable homes in both the single-family housing and rental markets. Witnesses talked about the factors contributing to these challenges, like restrictive land-use and zoning policies created by the government, and proposed various market-based solutions.

Representative John Rose, who serves 19 counties in Tennessee, including Cannon, Davidson, and Wilson Counties in our immediate area, introduced a bill that became a topic of discussion during the hearing. The legislation, H.R. 5198, known as the Expansion of Attainable Homeownership Through Manufactured Housing Act of 2023, aims to change the definition of “manufactured home” by removing “built on a permanent chassis and.” Representative Rose explained that the outdated requirement of a permanent chassis for manufactured housing is a government barrier hindering the supply of affordable homes. Eliminating this requirement, he argued, could potentially save thousands of dollars on new manufactured homes, making them more affordable.

During the hearing, Representative Rose emphasized, "The growing scarcity of affordable housing in this country for both homeowners and renters is a serious crisis." He thanked the Subcommittee for including H.R. 5198 in the discussion and expressed his eagerness to work with colleagues to advance this important legislation. The Subcommittee heard from expert witnesses, including representatives from U.S. Mortgage Insurers, CATO Institute, George Mason University's Mercatus Center, National Apartment Association, and the National Low Income Housing Coalition, shedding light on diverse perspectives to address housing affordability challenges.  - Read the full bill HERE.