{"id":62531,"date":"2026-03-13T03:05:09","date_gmt":"2026-03-13T02:05:09","guid":{"rendered":"https:\/\/housesmarketplace.com\/road-to-housing-act-sparks-debate-over-investor-limits-housing-supply\/"},"modified":"2026-03-13T03:05:09","modified_gmt":"2026-03-13T02:05:09","slug":"road-to-housing-act-sparks-debate-over-investor-limits-housing-supply","status":"publish","type":"post","link":"https:\/\/housesmarketplace.com\/ru\/road-to-housing-act-sparks-debate-over-investor-limits-housing-supply\/","title":{"rendered":"ROAD to Housing Act sparks debate over investor limits, housing supply"},"content":{"rendered":"
\n

\u041a\u043e\u0433\u0434\u0430 \u0421\u0435\u043d\u0430\u0442<\/strong> overwhelmingly passed the 21st Century ROAD to Housing Act on Thursday, longtime real estate analyst \u0421\u0442\u0438\u0432 \u041c\u044e\u0440\u0440\u0435\u0439<\/a> zeroed in on a number at the center of the legislation: 350.<\/p>\n

That figure, under the bill, defines a \u201clarge institutional investor\u201d \u2014 a category that triggers strict limits on single-family home purchases and imposes a seven-year requirement to sell certain properties to individual buyers.<\/p>\n

Murray \u2014 senior adviser for \u0416\u0438\u043b\u044c\u0435\u041f\u0440\u043e\u0432\u043e\u043b\u043e\u043a\u0430<\/strong> \u0438 \u043e\u0441\u043d\u043e\u0432\u0430\u0442\u0435\u043b\u044c RealTrends<\/strong> \u0438 \u0420\u0422\u041a \u041a\u043e\u043d\u0441\u0430\u043b\u0442\u0438\u043d\u0433<\/strong> \u2014 says the 350-property threshold appears arbitrary and unlikely to meaningfully change the nation\u2019s housing supply.<\/p>\n

\u201cI think they made it up,\u201d Murray said. \u201cI think what they probably did is had some guy look at the publicly held or publicly known investment funds and how many homes they own, that they can track, and they settled on a number that\u2019s supposed to hurt the deep-pocketed investors.\u201d<\/p>\n

The Senate \u043e\u0434\u043e\u0431\u0440\u0435\u043d\u043d\u044b\u0439<\/a> the bipartisan package in an 89\u201310 vote. It now heads to the \u043f\u0430\u043b\u0430\u0442\u0430 \u043f\u0440\u0435\u0434\u0441\u0442\u0430\u0432\u0438\u0442\u0435\u043b\u0435\u0439<\/strong> before it can be sent to President Donald Trump for his signature.<\/p>\n

While the bill includes provisions aimed at boosting supply and expanding access to affordable mortgages, several parts \u2014 particularly those targeting \u0438\u043d\u0441\u0442\u0438\u0442\u0443\u0446\u0438\u043e\u043d\u0430\u043b\u044c\u043d\u044b\u0435 \u0438\u043d\u0432\u0435\u0441\u0442\u043e\u0440\u044b<\/a> \u2014 have sparked debate across the housing industry.<\/p>\n

Investor restrictions and the seven-year clock<\/h2>\n

During the seven-year period, \u0430\u0440\u0435\u043d\u0434\u0430\u0442\u043e\u0440\u044b<\/a> would receive a right of first refusal if the property is put up for sale, as well as lease renewal options.<\/p>\n

But under the bill, leasing cannot extend more than 36 months past the original lease term. Investors who fail to comply could face steep penalties of up to $1 million or three times the purchase price of the property.<\/p>\n

Supporters argue the provision is designed to gradually move homes from corporate ownership into the hands of individual homeowners.<\/p>\n

While acknowledging benefits for \u043f\u043e\u043a\u0443\u043f\u0430\u0442\u0435\u043b\u0438 \u0432\u043f\u0435\u0440\u0432\u044b\u0435<\/a>, Murray said the measure does not address the country\u2019s lack of housing supply.<\/p>\n

\u201cThis bill is not going to create one more house for a family,\u201d he said. \u201cIt\u2019ll just shift from homeownership to a rental-to-homeownership [model]. Those of us in the industry think homeownership is a good thing. Of course, there\u2019s a lot of information out there showing that homeownership is a positive thing. So, I guess from that point of view, it\u2019s a positive.\u201d<\/p>\n

Debate over build-to-rent homes<\/h2>\n

The provision that affects \u0441\u0442\u0440\u043e\u0438\u0442\u0435\u043b\u044c\u0441\u0442\u0432\u043e \u0434\u043b\u044f \u0441\u0434\u0430\u0447\u0438 \u0432 \u0430\u0440\u0435\u043d\u0434\u0443<\/a> homes \u2014 properties constructed specifically to be rented rather than sold \u2014 has become a flashpoint.<\/p>\n

Industry groups \u2014 including the \u041d\u0430\u0446\u0438\u043e\u043d\u0430\u043b\u044c\u043d\u0430\u044f \u0430\u0441\u0441\u043e\u0446\u0438\u0430\u0446\u0438\u044f \u0434\u043e\u043c\u043e\u0441\u0442\u0440\u043e\u0438\u0442\u0435\u043b\u0435\u0439 <\/strong>(\u041d\u0410\u0425\u0411<\/a>) \u2014 have raised concerns about the requirement that such homes ultimately be sold to individuals within seven years.<\/p>\n

\u201cNAHB believes this requirement would severely curtail investment in single-family rental housing, potentially leading to a decrease in new construction by as much as 40,000 units per year,\u201d the association wrote Wednesday in a letter to Senate leaders. \u201cReducing the supply of new rental housing will have an overall negative impact on housing affordability.<\/p>\n

\u201cSingle family rentals play an important role in the housing supply ecosystem, allowing families an opportunity to live in homes and neighborhoods that meet their financial and family needs.\u201d<\/p>\n

But consumer advocates say the rule is necessary to prevent large investors from dominating entire neighborhoods with rental homes.<\/p>\n

\u201cIt is ironic \u2014 and telling \u2014 that the same voices who downplayed build-to-rent and institutional investors generally as a tiny slice of the housing industry are now willing to tank the most promising comprehensive legislation to tackle America\u2019s housing crisis in a generation over a targeted provision that does not even fully ban that business model,\u201d said Laurel Kilgour, research manager at the American Economic Liberties Project<\/strong>.<\/p>\n

Kilgour warned that allowing a broad exemption for build-to-rent developments could make it harder for families to purchase homes in certain communities.<\/p>\n

\u201cCreating a gaping loophole for build-to-rent would make homeownership off limits in entire neighborhoods, while exposing more renters to powerful landlords with a track record of price-gouging and deceptive practices,\u201d she said.<\/p>\n

Supporters of the legislation also argue that the rapid growth of institutional investor activity in the single-family housing market is a legitimate concern.<\/p>\n

The share of home purchases made by institutional investors surged 900% between 2012 and 2022 \u2014 increasing from roughly 40,000 purchases per year to about 415,000, the American Economic Liberties Project said.<\/p>\n

Large investor ownership still high in select pockets<\/h2>\n

Although institutional investors still own only a small share of single-family homes nationally, their presence is far more concentrated in certain markets<\/a>, such as Atlanta, Indianapolis, Raleigh and Tampa, where they control double-digit percentages of home purchases in some neighborhoods, Kilgour said.<\/p>\n

She also disputed the claim that build-to-rent homes would not exist without large institutional buyers.<\/p>\n

\u201cMoreover, the notion that houses built for rent would never otherwise be built is simply lobbyist propaganda,\u201d she said. \u201cIn fact, this category of construction barely existed before the pandemic, and the ROAD to Housing Act unlocks many other avenues to increase housing supply.\u201d<\/p>\n

Kilgour added that large \u0441\u0442\u0440\u043e\u0438\u0442\u0435\u043b\u0438<\/a> have increasingly targeted institutional investors as customers \u2014 sometimes prioritizing higher margins over broader housing production.<\/p>\n

\u201cBig builders and their proxies are just upset they would not be able to cash in as handsomely on the massive land hoarding that enabled them to pace production and cater to single-family rental landlords at scale instead of selling quickly to ordinary families,\u201d she said.<\/p>\n

Potential large investor workarounds, alternative solution<\/h2>\n

Sophisticated investors, Murray said, could easily restructure ownership across multiple entities to stay below the 350-property threshold. <\/p>\n

\u201cI\u2019ve been a capitalist and entrepreneur my almost 40 years at least,\u201d Murray said. \u201cThere\u2019s one rule about owning your own company, which is, you\u2019re going to run into rules and regulations and obstacles. Then the main thought process is, \u2018How do I legally get around this?\u2019<\/p>\n

\u201cThey\u2019ll figure out a way around it. These are very smart guys.\u201d<\/p>\n

Rather than targeting large institutional investors, Murray believes policymakers should focus on the millions of smaller mom-and-pop landlords<\/a> who collectively own a much larger share of rental homes.<\/p>\n

His preferred approach would offer a temporary tax incentive<\/a> encouraging those landlords to sell properties to first-time buyers.<\/p>\n

\u201cIt would give them 12 to 18 months of capital gains exclusion<\/a> if they sold to a first-time homebuyer, period,\u201d Murray said. \u201cI own two (investment properties) and they were both in the $300,000 to $400,000 price range, which is \u2014 at least where I live \u2014 a first-time homebuyer house. You want to have an effect on the market? Drop 2 million investor-owned homes on this marketplace \u2014 that\u2019ll bring prices down, not this bill.<\/p>\n

\u201cThis bill is a political stunt. But, you know, the good news is, I don\u2019t get cynical about it, because nothing surprises me anymore.\u201d<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

When the Senate overwhelmingly passed the 21st Century ROAD to Housing Act on Thursday, longtime real estate analyst Steve Murray zeroed in on a number at the center of the legislation: 350. That figure, under the bill, defines a \u201clarge institutional investor\u201d \u2014 a category that triggers strict limits on single-family home purchases and imposes […]<\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-62531","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\nROAD to Housing Act sparks debate over investor limits, housing supply - Houses Marketplace<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/housesmarketplace.com\/ru\/road-to-housing-act-sparks-debate-over-investor-limits-housing-supply\/\" \/>\n<meta property=\"og:locale\" content=\"ru_RU\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ROAD to Housing Act sparks debate over investor limits, housing supply\" \/>\n<meta property=\"og:description\" content=\"When the Senate overwhelmingly passed the 21st Century ROAD to Housing Act on Thursday, longtime real estate analyst Steve Murray zeroed in on a number at the center of the legislation: 350. 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