Senate to Vote on Bipartisan Bill to Restrict Private Equity Ownership of Single-Family Homes
The Senate is set to vote on a bipartisan bill that includes restrictions on private equity ownership of single-family homes. President Trump initially proposed this measure in January, and the Senate's language aims to prevent large institutions from purchasing individual homes.
The 21st Century Road to Housing Act encompasses 50 different provisions with the overarching goal of boosting home construction and lowering prices. According to Brookings, approximately 3% of single-family homes in the U.S. are currently owned by large institutional investors, who are more active in multifamily housing, an aspect not addressed in the bill.
The Senate is expected to vote on the bill on Monday evening, with the House likely to follow suit later in the week. If the bill passes both chambers, President Trump is anticipated to sign it into law.
In conclusion, the Senate is poised to vote on a bill that aims to curb private equity ownership of single-family homes, as part of a broader effort to stimulate homebuilding and reduce housing prices.