economy
Senate advances housing bill to limit private equity purchases of single-family homes
The House is also expected to advance a sprawling housing package this week that's aimed at creating more supply and making homes more affordable.
TL;DR
- Senate passed a bipartisan affordable housing bill with an 85-5 vote.
- The bill limits the number of single-family homes major investors can purchase.
- It aims to increase housing supply and affordability, with the House expected to vote on it soon.
- A compromise was reached on a 350-unit cap for investors, removing a previous sell-by provision.
- The legislation is seen as crucial ahead of the 2026 midterm elections, with both parties focusing on the cost of living.
- Key figures involved include Sen. Tim Scott, Sen. Elizabeth Warren, Rep. French Hill, and Rep. Maxine Waters.