The Senate approved the measure with a strong 89 to 10 vote, targeting entities like pension funds, insurance companies, and large asset managers such as Blackstone.
Proponents argue the bill addresses housing affordability, but critics note institutional investors own less than 1% of U.S. housing and warn the measure may worsen the housing crisis.
Public distrust of large corporations fuels such legislation, despite evidence that the real issue is limited housing supply and restrictive zoning, not institutional investment in single-family homes.
Could a ban on corporate homebuyers accidentally make renting more expensive for everyone?
Beyond banning investors, what zoning changes could unlock millions of new homes for families?
With housing supply at a historic low, is targeting less than 1% of owners the right move?
Will exceptions for 'build-to-rent' in the new law create a permanent class of corporate landlords?
Why do home prices often spike when large investors start buying in a neighborhood?