What the 21st Century ROAD to Housing Act Means for Chicagoland REALTORS®
Ask almost any REALTOR® across Chicagoland what their clients are struggling with today and you’ll likely hear that same two words: affordability and inventory.

Whether you’re working with first time buyers, move up buyers, investors or sellers, these challenges continue to shape nearly every conversation. While no single piece of legislation will solve today’s housing market, the recently passed 21st Centure ROAD to Housing Act includes several housing and tax provisions that could create new opportunities for consumers while reinforcing the value REALTORS® bring to every transaction.
Click here to view the full version of the 21st Century ROAD to Housing Act.
More Housing Supply Remains the Goal
One of the biggest barriers to homeownership is simply the lack of available homes.
The legislation includes provisions intended to encourage housing development and expand affordable housing opportunities over time. While these changes won’t increase inventory overnight, they recognize that increasing the nation’s housing supply is essential to improving affordability and creating more choices for buyers.
For Chicagoland REALTORS®, that’s an encouraging step toward a healthier housing market.
Homeownership Continues to Be Encouraged
The bill preserves several long-standing tax provisions that support homeownership, like the mortgage interest deduction and capital gains exclusions while providing greater certainty for individuals and families planning for the future.
NAR posted an update about the 21st Century ROAD to Housing Act. Read more here.
Every consumer’s tax situation is unique and REALTORS® should always encourage clients to consult a qualified tax professional for advice. Maintaining these incentives reinforces homeownership as an important long-term investment and may give consumers the confidence to enter the market.
Small Business Owners May Benefit Too
Many REALTORS® operate as independent contractors or small business owners.
The legislation extends several tax provisions that may allow eligible business owners to retain more of their earnings and reinvest in their businesses. For REALTORS®, that could mean additional resources for marketing, technology, education and professional development, all of which ultimately benefit the clients you serve.
Your Local Expertise Is More Valuable Than Ever
Federal legislation can influence the housing market but real estate is still local.
A policy passed in Washington may affect communities differently across Cook, DuPage, Kane, Lake and Will counties. Market conditions, inventory levels and buyer demand will continue to vary from one neighborhood to the next.
That’s why consumers continue to rely on REALTORS®. Your role is more than opening doors or writing contracts. You help clients understand how national policy, local market conditions and their personal goals come together when making on of the biggest financial decisions of their lives.
What This Means for Consumers
Consumers are hearing a lot of headlines about housing, affordability and taxes. Many will naturally have questions about how these changes affect them.
While some provisions may provide financial benefits, the impact will depend on each individual’s circumstances. Helping consumers understand what has changed while encouraging them to seek guidance from qualified tax and financial professionals, builds trust and reinforces the REALTORS® role as a knowledgeable resource.
The Bottom Line
The 21st Century ROAD to Housing Act won’t solve every housing challenge facing Chicagoland but it does include provisions aimed at supporting homeownership, encouraging housing development and providing greater certainty for many consumers and small business owners.
As questions begin to surface, REALTORS® have another opportunity to demonstrate their value by staying informed, providing local market expertise and helping clients make confident, well-informed decisions.
That’s something no piece of legislation can replace.
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