Senate passes affordable housing bill
The Senate voted to approve the Renewing Opportunity in the American Dream to Housing Act of 2025, a sweeping bipartisan bill aimed at tackling the nation’s affordable housing crisis by boosting supply.
“This landmark legislation — the first of its kind in more than a decade — takes important steps to boost the nation’s housing supply, improve housing affordability, and increase oversight and efficiency of federal regulators and housing programs,” Democratic Sen. Elizabeth Warren, a ranking member of the Senate Banking Committee, said in a statement.
The vote late Thursday comes amid soaring home prices and a persistent shortage of affordable homes in the United States. The bill now heads to the House of Representatives, where its future remains uncertain amid partisan tensions over spending and the government shutdown.
Foreclosures climb 17%
Foreclosure activity in the third quarter was 17% higher than the same period a year ago, according to data analytics firm ATTOM.
Compared to the previous quarter, foreclosures increased by just under 1%, ATTOM said, while filings in September alone were 20% higher than last year. The data provider noted that the year-over-year quarterly increase remains within a “historically reasonable range,” though it could “be an early indicator of emerging borrower strain in some areas.”
The most foreclosures were in Texas, Florida, California, Illinois and New York. Texas had nearly 10,000 foreclosure starts, while New York had about 3,200.
More specifically, the major metros with the highest number of foreclosures were Houston, New York, Chicago, Miami and Los Angeles.