U.S. Senate Passes Landmark Housing Reform, Restricts Institutional Purchases with 85-5 Vote

This week, the U.S. Senate passed the "21st Century ROAD to Housing Act" by an overwhelming 85-5 margin, marking the largest housing reform in over 30 years. The bill now moves to the House for final approval before submission to President Trump for signature. Senator Elizabeth Warren called it one of the most significant housing bills since 1990, designed to address decades of affordability crisis.

A key provision restricts large institutional investors—those holding over 350 single-family homes—from purchasing additional residential properties. The measure directly targets private equity firms and asset managers like Blackstone and KKR, which have aggressively expanded residential portfolios through all-cash offers. The bill aims to prevent institutional capital from outbidding individual homebuyers, while preserving the rental supply through a Build-to-Rent exemption.