America’s housing shortage isn’t new. But Rep. Mike Flood (R-Neb.) wants to breathe fresh life into the issue among Republicans on the House Financial Services Subcommittee on Housing and Insurance.
We sat down with Flood last week to talk about how that’s going to go.
By way of background: A dearth of housing stock is a local issue with deep roots in Nebraska. The state’s unemployment rate has been among the lowest in the country for a while, and the lack of housing has been a meaningful constraint on hiring and business growth.
Beyond that, Flood is bringing unusually strong bipartisan chops to the gavel. As a state senator, he led Nebraska’s unicameral legislature between 2007 and 2013. “I was a coalition speaker — Republicans and Democrats in chair positions,” Flood said.
Today, Flood says it’s time to work with Hill Democrats. Democrats have spent much of the last decade trying and failing to advance housing solutions at the national level, but House Republicans haven’t made it a consistent focus. (The Senate Banking Committee is a different matter.)
“The reality is, Democrats really care about housing,” Flood said. “We’ve met with our subcommittee, and our subcommittee cares about housing.”
The agenda: Flood sees three big “buckets” for his subcommittee Republicans to focus on: housing programs, insurance reform and releasing government-sponsored enterprises from conservatorship.
In housing, reauthorization is the name of the game for Flood. There are a lot of federal housing programs that haven’t been formally reauthorized in years, just extended. Flood says it’s time to look under the hood.
“My focus is going to be more on the non-Section 8 HUD programs that affect supply, maybe prioritizing those a little more,” Flood said, pointing to the Community Development Block Grant program at HUD. Tribal housing reforms could be another focus, Flood said.
Flood also said GOP lawmakers should weigh an “omni bill” with several disparate housing reforms rolled into one.
More Flood:
Flood says the committee won’t neglect the insurance side of the subcommittee either. That includes the National Flood Insurance Program. The Nebraska Republican said NFIP reform was a particular priority for GOP Reps. Will Timmons (S.C.), Andrew Garbarino (N.Y.) and Scott Fitzgerald (Wis.).
The Federal Insurance Office is another focus for the GOP — the focus of their ire, usually. But Flood said he wasn’t in favor of abolishing the office.
“I’ve got members who want to eliminate it,” Flood said. “I’m of the opinion that we need to have a seat at the table with what’s happening in Europe.”
Releasing Fannie Mae and Freddie Mac back onto the private market may be the most ambitious item on the list. Like House Financial Services Committee Chair French Hill (R-Ark.), he wants the Trump administration to kickstart the process. “Let’s let the [Federal Housing Finance Authority] call its shot,” Flood said.
But Flood also said that the clock is ticking. “Let the FHFA get 11 or 12 months under its belt, and let’s prioritize GSE conversations, and potential privatization, for January 2026,” Flood said. “There’s some things it can do on its own, but anything they do should be paired with some reforms from Congress.”
