Rep. Vasquez Votes to Pass Bipartisan Housing Bill to Bring Down Housing Costs and Curb Corporate Homebuying

WASHINGTON, D.C. – On May 20, 2026, U.S. Representative Gabe Vasquez (NM-02) voted to pass the 21st Century ROAD to Housing Act, a bipartisan bill to bring down housing costs in New Mexico. The bill — the largest housing package to pass out of the House in 36 years — now heads to the Senate and makes sweeping changes to the American housing market. Measures in the bill include:   

• Authorizes funding to build more affordable housing for working families in New Mexico: The bill funds additional affordable housing projects to boost housing stock and bring down prices. The bill also establishes new HUD grant programs to expedite new home construction and allow communities to convert commercial or industrial buildings into affordable housing.
• Revives the American Dream of homeownership for hardworking New Mexicans by protecting everyday homebuyers from Wall Street corporations: ​The bill prohibits corporate investors that own more than 350 single-family homes from purchasing additional single-family homes to create a fairer playing field in the housing market. It also creates a renter resource center, including a national hotline and public website, for reporting, monitoring, and resolving renter disputes with institutional investor landlords.
• Expands secure financing options to help New Mexicans buy a home: The bill establishes pilot programs to provide grants to homebuyers and incentives to lenders to help families buy homes.
• Boosts transparency for veterans to help meet their housing needs: The bill adds a disclosure to make sure veterans are aware of Uniform Residential Loan Applications, which offer them a more affordable lending option for homebuying.
• Supercharges the manufactured housing market, an affordable and popular housing option across the state of New Mexico: The bill requires HUD to help manufactured home developers speed up the production of more homes, increases FHA loans for manufactured homeowners, and pours investment into a foundational piece of New Mexico’s affordable housing market, as one in six homes in New Mexico are manufactured housing.

“For most New Mexicans, housing is the most expensive line item in the monthly budget, and it doesn’t matter what side of the political aisle you’re on — we can all agree the current affordability crisis is leaving folks underwater. New Mexicans need real solutions right now,” said Vasquez. “This bipartisan bill delivers relief for New Mexicans by cutting red tape to expedite the construction of more affordable housing, expanding loan opportunities for working class folks, and making it harder for corporate investors to artificially jack up housing prices by snatching up homes that should belong to families. This is the biggest win for housing affordability in a generation.”

Today’s bipartisan victory builds on Rep. Vasquez’s  longstanding work to make housing more affordable for New Mexicans. His work to bring down housing costs includes:

• Introducing the Keep Mobile Homes Affordable Act, a bill to ensure investors who purchase over 2,500 mobile homes or pads are not engaging in price gouging or failing to provide basic utilities to residents. This legislation was inspired by the Congressman’s conversations with mobile home residents in places like Alamogordo and Albuquerque who raised serious concerns about mobile home affordability, and he will continue his work to pass this legislation into law to bring down housing prices in New Mexico — where one in six homes is a mobile home. 
• Hosting a Town Hall in Carlsbad focused on addressing the housing affordability crisis
• Co-sponsoring the Bipartisan Families First Housing Act and Stop Wall Street Landlords Act to crack down on greedy, corporate landlords and ensure hardworking New Mexicans have a fair shot at homeownership
• Supporting the Affordable HOMES Act to cut red tape and lower manufactured home costs for New Mexicans, helping those who rely on mobile and manufactured housing keep their homes affordable
• Supporting the HOME Act to make it illegal for institutional investors to rent or sell a housing at an unreasonable rate during an affordable housing crisis, ensuring that rents and housing costs stay within reach for working families

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