03/15/2026
The U.S. Senate passed legislation aimed at limiting large institutional investors from purchasing single-family homes in an effort to address housing affordability. The bill, often referred to as the “Homes Are For People, Not Corporations” Act, would prohibit entities controlling 350 or more single-family homes from acquiring additional properties and require many investor-owned homes to be sold to individual buyers within seven years.
The proposal also includes provisions allowing current tenants a first opportunity to purchase properties scheduled for sale and establishes civil penalties of up to $1 million or three times the purchase price for violations. Additional measures in the legislation seek to increase housing supply by streamlining certain regulatory processes and expanding financing options for manufactured housing and smaller mortgage loans. The bill now moves to the United States House of Representatives for consideration.
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