House approves bipartisan housing bill to lower costs by cutting regulations and curbing corporate landlords

The House gave final approval Tuesday to a broad bipartisan bill aimed at lowering the cost of housing, with lawmakers in both parties eager to show progress on affordability issues ahead of this year's midterm elections.

The legislation would reduce federal regulations, streamline environmental reviews, speed up the construction process and curb the influence of corporate landlords by limiting their ability to purchase single-family homes.

It represents one of the most sweeping efforts in decades to increase the supply of housing and bring down prices.