In 2026, the Trump administration and Congress have placed a significant emphasis on expanding access to homeownership for individuals and families, with a particular focus on limiting the role of large institutional investors in the single-family housing market. As discussed in our January 2026 GT Alert, President Trump signed an executive order declaring that large institutional investors should not compete with homebuyers for single-family homes. Building on that policy direction, on March 12, 2026, the U.S. Senate passed the 21st Century ROAD to Housing Act (“the Act”), which, among other housing-related reforms, includes a prohibition on the purchase of single-family homes by large institutional investors, subject to a number of defined exceptions. The U.S. House of Representatives previously passed its own version of the bill on Feb. 9, 2026, and it contained none of the institutional investor provisions included in the Senate bill. Key House members have expressed opposition to the Senate provisions described below. The two chambers are currently involved in informal discussions to resolve differences between their respective versions of the legislation. This GT Alert details the key provisions of the Act as passed by the Senate, with a particular focus on the institutional investor restrictions.
The 21st Century ROAD to Housing Act: Considerations for Large Institutional Investors
