Dozens of industry groups take issue with housing bill provision
The 21st Century ROAD to Housing Act has sparked debate among industry leaders and lawmakers due to a provision limiting institutional investor activity in the housing market. The provision aims to prevent corporate buyers from squeezing out first-time homebuyers, but opponents argue it could halt the construction of single-family rental housing and hurt lower-income consumers.
The 21st Century ROAD to Housing Act has passed the Senate with a provision that limits institutional investor activity. This provision blocks investors who own at least 350 single-family homes from purchasing more, with exemptions for those buying or building homes for the rental market. The goal is to prevent corporate buyers from squeezing out first-time homebuyers. However, industry groups argue that this could halt the construction of single-family rental housing. The legislation has sparked debate among industry leaders and lawmakers. Opponents warn that it could hurt lower-income consumers and cut housing supply.
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