US EditionUS Senate advances bill to lower housing prices
The bill limits companies owning over 350 homes from buying more and includes a seven-year divestment rule to boost affordability amid a 60% rise in home prices since 2019.
- Senate leaders moved a compromise housing package forward on March 11, but a Trump-backed investor ban stalls progress in the House.
- Companies that own more than 350 single-family homes would be prohibited from buying more, and must divest within seven years, while builders and renovators have exceptions if they sell homes after that period.
- A House version passed 390-9 in February, and the U.S. Senate cleared procedural votes 84-10 and 82-11 while industry groups backed the Senate bill.
- House leaders warned, 'If the Senate thinks we're gonna take this medicine, we're gonna go to conference,' as industry groups warned the seven-year divestiture clause would reduce rental supply and options.
- Economists say the U.S. faces a shortage of roughly 4 million homes, while the median price reached five times the median household income and the proposed legislation will not fully fix the problem.
64 Articles
64 Articles
Senate Passes Major Housing Bill With Investor Home Purchase Ban
The Senate passed the largest housing affordability bill in three decades on Thursday, approving the measure in an 89 to 10 vote, reported by CNBC. The legislation includes a controversial provision that would ban investors and companies from buying single family homes if they already own 350 or more properties. According to the report, companies that build or significantly renovate homes could still own them but must sell the properties within …
Associated Press News
Senate passes bipartisan housing bill to improve access and affordability
In a rare bipartisan effort for a deeply divided Congress, the Senate has passed a broad bill to make U.S. housing more accessible and affordable.
Less regulation, not more, will lower housing prices
Partly because of the mass deportation of, and self-deportation by, illegal immigrants, rents are falling in most markets across the country. This is a good thing, but most people don’t dream of renting; they dream of owning a home. It has never been more difficult for young people to buy their first home and get on the ladder. The House recently passed legislation that helps address this problem, but the Senate version of the bill, released las…
Bipartisan housing push advances, but Trump-backed investor ban faces resistance | Fox Wilmington WSFX-TV
close Video ‘COMMON SENSE SOLUTION’: Democrats and Republicans come together to help the housing crisis Rep. Josh Riley, D-N.Y., and Pat Harrigan, R-N.C., discuss ways both parties are trying to make the American dream achievable. NEWYou can now listen to Fox News articles! The Senate moved closer Wednesday to advancing a sweeping housing package aimed at boosting affordability, but a Trump-backed provision banning institutional investors fro…
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