Bill limiting investors from buying homes set to speed through Congress
Top lawmakers reached an agreement on a key housing bill that would limit investor ownership, clearing the way for passage through both chambers of Congress.
TL;DR
- An agreement has been reached on a housing affordability bill.
- The bill will limit major investors from buying single-family homes.
- Investors will still be permitted to build new buy-to-rent properties.
- A provision requiring investors to sell units within seven years was removed.
- The bill caps the number of single-family homes investors can buy at 350.
- The Senate plans to hold an initial procedural vote this week.
- The bill is seen as a significant step in restricting private equity in the housing market.