President Donald Trump is refusing to sign a housing bill passed by both chambers of Congress over a week ago but will allow it to become law, according to Bloomberg News. The non-signature move is a protest over Congress's failure to pass a voter ID law that has been one of his priorities. However, the housing bill will become law assuming he doesn't veto it by midnight Friday. Homebuilder stocks climbed in Friday morning trading, with the iShares US Home Construction ETF gaining 1.9%, its biggest single-day increase since June 18. The bill, known as the 21st Century ROAD to Housing Act, includes measures to waive or accelerate environmental review for home construction projects and puts a cap on the number of already constructed single-family homes that big Wall Street investors can own.
Beazer Homes USA Inc
DR Horton Inc
Hovnanian Enterprises Inc
KB Home
Lennar Corporation
PulteGroup Inc
Toll Brothers Inc