House Republicans have removed a bipartisan bill trying to boost the country’s supply of homes and tackle the housing affordability crisis from a piece of "must-pass" legislation, delaying—and potentially nullifying—any major reform efforts.

Why It Matters

The homebuying frenzy that characterized the pandemic, which was driven by historically low borrowing costs, exacerbated an inventory shortage that had its roots in the post-Great Recession years. As a sudden wave of buyers fought over a limited number of homes, prices skyrocketed—and are now still roughly 30 percent higher than in 2019.

Combined with historically high mortgage rates, rising property taxes, homeowners association (HOA) fees and homeowners insurance premiums, the cost of homeownership has now become unaffordable fo

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