Recently, the Senate passed the 21^st Century ROAD to Housing Act by a vote of 89-10 

The bipartisan housing package includes Senator Reverend Warnock’s provision to ban large corporations from mass purchasing single-family homes 

Georgia’s housing market is suffocated by private equity, with more than one in four single-family rental homes in metro Atlanta owned by large corporations 

The American people believe single-family homes should belong to single families – recent polling shows 73% of Americans want to ban Wall Street from owning single-family homes 

The housing package has been endorsed by dozens of affordable housing champions and organizations, including Atlanta Mayor Andre Dickens 

ICYMI from the Georgia Recorder: U.S. Senate passes bill with Warnock-backed provision limiting the number of investor-owned homes 

Washington, D.C. – Recently, the U.S. Senate overwhelmingly passed the bipartisan 21^st Century ROAD to Housing Act legislative package by a vote of 89-10. The bill includes Senator Reverend Raphael Warnock’s (D-GA) provision to ban large investors, including private equity, from mass purchasing single-family homes.  

More specifically, the Senator’s provision would ban large corporations that own more than 350 single-family homes from purchasing any additional single-family homes. For context, 25% of Atlanta’s single-family rental market is owned by large corporations that own more than 1,000 homes. This legislation would impose a fine of the greater of either $1 million or three times the purchase price on any corporate investor that purchases a single-family home above the cap. Any fines collected under this legislation will be used for new housing construction and financial assistance for first-time homebuyers, building on the Senator’s leadership to support first-time homebuyers.  

Bill text for the amendment can be found HERE. 

More coverage of Senator Reverend Warnock’s housing provision is below: 

• Georgia Recorder: The U.S. Senate passed a bill Thursday with a provision backed by U.S. Sen. Raphael Warnock that would ban large corporations from owning too many homes. 

• New York Times: A piece of the measure that was spearheaded by Senator Raphael Warnock, Democrat of Georgia, would bar investors who own 350 or more properties from purchasing a single-family home, though they would not have to sell properties they already own.    

• The Current: The U.S. Senate passed a bill Thursday with a provision backed by U.S. Sen. Raphael Warnock that would ban large corporations from owning too many homes. 

• Atlanta Civic Circle: Sen. Raphael Warnock (D-Georgia) is betting Congress is finally ready to take a serious swing at corporate homebuyers’ grip on housing markets nationwide.  

• Fox5Atlanta: Senator Raphael Warnock is leading a bipartisan effort to ban private equity firms from mass-purchasing single-family homes… The proposed legislation, part of the ROAD to Housing Act, would slap institutional investors with million-dollar fines for “gobbling up” neighborhoods across metro Atlanta. 

• Capital B: Private companies buying up homes in metro Atlanta have made the American dream of homeownership unattainable for many families, and U.S. Sen. Raphael Warnock said Black Georgians seeking to buy their first homes have been hurt more than most.  

• WUGA: Senator Raphael Warnock is spearheading a bipartisan measure to stop large corporations from buying large swaths of single-family homes in Georgia and the rest of the nation. According to Warnock, Atlanta is ground zero for the problem, as more than 1 in 4 single-family rental homes in the city are owned by private equity, with many investors from out-of-state.