Axios

WASHINGTON — Capitol Hill lawmakers are working across the aisle to cut through red tape and build more homes, though a compromise over rules on certain rentals is a sticking point, speakers said at an Axios event.

Why it matters: With an estimated shortage of 4.7 million U.S. homes, leaders from both parties are moving on the overall goal of supply, even as they work through negotiations on the fine print of a federal housing bill.

Axios chief economic correspondent Neil Irwin and Axios Local D.C. reporter Cuneyt Dil moderated discussions with Rep. Ritchie Torres (D-N.Y.), Rep. Mike Flood (R-Neb.) and Washington Housing Conservancy CEO Kimberly Driggins. The May 21 event was sponsored by Zillow.

What they're saying: "Housing is having a moment in Washington, D.C., and it's more than a moment, it's a movement," Torres said, citing the major housing package that passed the House 396-13 on May 20.

• "The American zeitgeist is moving decisively in the direction of housing abundance."

Between the lines: The bill's future remains uncertain because of a Senate rule requiring corporate developers to liquidate single-family rental portfolios within seven years.

• "The seven-year rule makes build-to-rent housing unfinanceable and therefore unbuildable and reduces housing supply," Torres said.
• "We worked with [Rep.] Maxine Waters [D-Calif.], worked with the White House to make those surgical changes," Flood said. He added that compromises meant "we didn't get everything we wanted, [but] I think we're on a good path now."

Affordability concerns, lack of infrastructure, red tape and geographic isolation block housing access across markets, the panelists said.

• "In rural America, infrastructure is the No. 1 impediment to housing availability," Flood said, explaining that smaller towns lack the water and sewer lines needed to build starter homes.
• "In New York City, it takes on average 200 days just to rent out an affordable housing unit that has already been constructed," Torres said.
• "Affordable housing is not just a unit," Driggins said. "It's really about the location. It's really about the connection, it's really about the opportunity that a home provides."

By the numbers: Credit scoring is outdated and makes it harder for younger Americans to buy a home, according to Torres.

• He wants a federal requirement that agencies include rental payment history to boost those who pay on time but carry no other debt. "Without a credit score, you have no access to credit," Torres said.

Content from the sponsor's segment:

In a View from the Top conversation, Zillow senior vice president and general manager Zuhairah Washington discussed how data and technology can help buyers navigate a tough market.

• "A key pillar of what we look to do is what we call turn on the lights and build transparency, and making sure that everyone has access to information they need to make homeownership a reality."

A Florida judge kept Gov. Ron DeSantis' new congressional map alive Tuesday, allowing the state to implement a Republican-friendly plan while three state lawsuits continue.

Why it matters: The national redistricting fight is a race to pre-write who controls Congress before voters ever see a ballot.

The Democratic Congressional Campaign Committee (DCCC) is employing an unusual tactic to blunt what it says is Republican meddling in its primaries:

• It has teamed up with the candidates it sees as the "strongest" in key battleground districts, launching joint ad buys to squeeze out its Democratic primary opponents.

Why it matters: This practice has infuriated parts of the party, particularly the progressive wing.

President Trump has proudly stretched the power of the presidency in never-before-witnessed ways.

• But it's the choices he's made with that power — often alone, often impulsive — that explain his plunging popularity and will define his second term.

Why it matters: Every president tests limits. Trump tests them faster than anyone, often with little thought about the consequences, his advisers tell us. Only courts or markets, or his quest for good press, can rein him in.

Mike Needham, a longtime aide to Secretary of State Marco Rubio, has been promoted to a top national security job in the White House, Axios has learned.

Why it matters: Needham's new post as assistant to the president and deputy national security adviser is one of the more important jobs in a Trump administration consumed with foreign policy challenges from Iran to China, Cuba and Venezuela.

With a U.S.-Iran deal (maybe?) taking shape in coming days, the oil market that follows will look different than what preceded the war.

Why it matters: The emerging deal — which would re-open the Strait of Hormuz while nuclear talks proceed — could return large amounts of barrels to the market.

For most of this century, rich countries have enjoyed a seemingly free lunch: They could spend money as needed, cut taxes at will and stimulate their way out of problems without paying a price in the form of higher borrowing costs or inflation.

The big picture: That era is over. The $145 trillion global bond market is flashing red signals that there's now a price to be paid for governments that indulge their profligate impulses.

Pope Leo XIV is warning that the artificial intelligence race could become a new Tower of Babel — a dazzling human achievement that concentrates power, weakens truth and turns people into data points.

Why it matters: The long-awaited document, Magnifica Humanitas ("Magnificent Humanity"), signals that the Vatican is aggressively positioning itself as a central moral authority in the global tech debate.

We get paid to anticipate the future by recognizing fact patterns. Here's our honest read on 2028:

• Several forces will converge by then — toxic political fragmentation, superintelligent AI and a platform shift bigger than social media — hitting simultaneously, not sequentially.

Why it matters: CEOs who aren't stress-testing their strategy against this collision right now might get upended by it.