Skip to playerSkip to main content
Benzinga
  • 4 hours ago
The Senate passed a major housing bill 89-10 banning investors owning 350+ homes from buying more single-family properties, with a 7-year resale requirement for builders. The bill faces House negotiations, while industry groups warn the ownership cap could remove hundreds of thousands of units serving lower-income households.
Transcript
00:00It's Benzinga, bringing Wall Street to Main Street.
00:02The Senate passed the largest housing affordability bill in 30 years with an 89-10 vote,
00:07including a ban on investors buying single-family homes, according to CNBC.
00:12The bill faces a difficult path in the House, which passed its own bipartisan housing legislation
00:17in February. House Republican leaders said the Senate bill will need negotiations and
00:22could stall due to differences between the two versions. The bill would ban investors
00:26and companies from buying single-family homes if they already own 350 or more. Companies that build
00:32or renovate homes could own more, but must sell those homes within seven years.
00:37Industry groups said the seven-year ownership limit would eliminate production of build-to-rent housing.
00:42They warned the policy could remove hundreds of thousands of housing units from the market
00:46over the next decade, many serving lower- and middle-income households.
00:50For all things money, visit Benzinga.com.
Comments