"Section 901, added at the last minute to the U.S. Senate's version of the legislation, would ban institutional investors that own 350 or more single-family homes from purchasing additional single-family properties, other than manufactured housing."
"Industry leaders brought real-world examples to Capitol Hill of how the proposal is already impacting the BTR industry, arguing that if passed, Section 901 would make it difficult for investors and developers to profit on BTR projects."
A bipartisan letter signed by 76 members of Congress raised concerns about Section 901 of the 21st Century ROAD to Housing Act. This section would ban institutional investors owning 350 or more single-family homes from purchasing additional properties, except for manufactured housing. It mandates that certain homes be sold to individual homeowners within seven years. Industry representatives argue that this could negatively impact the Build-to-Rent (BTR) industry, discouraging investment and affecting housing supply.
Read at www.housingwire.com
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