House Revises Institutional Investor Rules in Bipartisan Housing Bill

The House of Representatives updated key language Tuesday in bipartisan housing legislation that would ban institutional investors from purchasing single-family homes. The revisions revert much of the institutional investor section to the Senate version of the 21st Century ROAD to Housing Act.

The changes follow a clash between the two chambers. In its amended version last week, the House kept the institutional investor ban but removed a provision that would have required investors in build-to-rent homes to sell those houses within seven years.

The House version also added several exceptions that would have allowed institutional investors to purchase more homes than under the Senate draft. Tuesday's update still eliminates the seven-year build-to-rent sales requirement but removes the other exceptions added last week.

The institutional investor section now matches the Senate version except for the removal of the seven-year provision.

The Tuesday update also makes changes to organized labor provisions in the legislation. The move shows that discussion over the bipartisan housing legislation has been ongoing between the House, the Senate, and the White House. Housing experts argued that the seven-year build-to-rent provision would decrease the housing stock.

The provision was heavily criticized by influential groups such as the National Association of Home Builders and the National Multifamily Housing Council.

Earlier on Tuesday, the Washington Examiner spoke with President Donald Trump about the housing legislation. Trump expressed optimism about some form of the bill making its way to his desk. When asked if he supported the House version, which has the blessing of House leadership, Trump responded that he would have to see what all the amendments are but supports House Speaker Mike Johnson.