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House Clears Housing Bill With Overwhelming Bipartisan Vote

The House approved a bipartisan housing affordability measure Wednesday by a vote of 396-13, imposing limits on institutional investor acquisitions in the single-family housing market. The legislation bars institutional investors owning more than 350 single-family homes from purchasing additional properties. However, it permits them to construct new units. The compromise measure removed a contentious Senate provision requiring major investors to divest any units built beyond the ownership cap within seven years. The revision gained backing from rental, construction and housing industry groups. The bill received White House support after negotiators balanced competing versions between chambers. Senate passage remains uncertain, requiring 60 votes to advance to the President. The legislation has bounced between both chambers multiple times this year amid disputes over investor restrictions and rental housing development provisions.