Bipartisan Bill Targets Large Investors, Eases Housing Regulations
The Senate has passed the 21st Century ROAD to Housing Act, a bipartisan bill aimed at banning large investors from purchasing single-family homes and reducing regulatory barriers to affordable housing.
In a rare display of bipartisanship, the United States Senate has passed the 21st Century ROAD to Housing Act, a bill that takes aim at large investors and seeks to ease regulations in the housing market. The legislation, co-sponsored by Sen. Tim Scott (R-SC) and Sen. Elizabeth Warren (D-MA), is designed to address the growing concern over institutional investors purchasing a significant portion of single-family homes, making it increasingly difficult for first-time and low-income buyers to enter the market.
The bill, which now heads to the House of Representatives, would prohibit large investors from buying single-family homes, defined as those with 10 or more properties. This move is intended to level the playing field and give individual buyers a better chance at securing their own piece of the American Dream.
Source: NPR
