Oregon — U.S. Sens. Josh Hawley (R-Mo.) and Jeff Merkley (D-Ore.) on Thursday introduced bipartisan legislation aimed at restricting large institutional investors from purchasing single-family homes nationwide.
The proposed package includes the Homes for American Families Act and an updated version of the HOPE for Homeownership Act. The measures seek to prohibit large institutional investors from buying single-family homes, townhouses, and condominiums, and would empower the U.S. Department of Justice to enforce civil penalties and conduct prioritized antitrust review of residential real estate purchases by major investment firms.
According to the senators, the legislation is intended as a response to what they describe as a worsening homeownership crisis, fueled in part by Wall Street-backed firms purchasing large numbers of homes and converting them into rental properties.
Hawley said the bill would prevent investment companies from competing with families seeking to buy homes. Merkley said housing should serve as residences for families rather than investment vehicles for hedge funds and corporate investors.
The updated HOPE for Homeownership Act would also use tax changes to encourage large institutional investors and hedge funds to divest their existing single-family home holdings.
The legislation was introduced in the U.S. Senate on February 26, 2026.
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