Lawmakers have reached a bipartisan agreement on an affordable housing bill aimed at increasing housing supply and limiting large investors’ influence in the market.
The measure would cap major investors at purchasing no more than 350 single-family homes, though it drops a previously proposed requirement that they sell newly built homes within seven years.
Senate leaders expect the bill to advance quickly, with a possible Senate vote this week and House approval soon after.
Supporters, including Sen. Elizabeth Warren, say the legislation is a historic step to curb private equity’s role in driving up housing costs, CNBC has reported.
If passed, the bill is expected to be signed into law by the end of the month.
