NOW LAW: Warnock-Led Private Equity Housing Ban Will Help Keep Homes in the Hands of Georgia Families

Senator Reverend Raphael Warnock's provision to ban large corporations from mass purchasing single-family homes is now federal law

The provision is part of the historic 21st Century ROAD to Housing Act, the largest housing reform and affordability legislation in a generation

Private equity has rapidly spread through Georgia's housing market, with more than one in four single-family rental homes in metro Atlanta owned by large corporations

The housing package includes provisions championed by Senator Warnock that will boost housing supply by cutting red tape, investing in local innovation, and reforming legacy housing programs

Senator Reverend Warnock: "This legislation is proof that when we center the people instead of the politics, we can get good policy done"

Washington, D.C. - Today, in a historic victory for American families, Senator Reverend Raphael Warnock's (D-GA) landmark provision to ban private equity firms from mass-purchasing single-family homes is officially federal law.

Hailed as the most consequential housing package in a generation, the legislation delivers relief to a housing market crippled by the ongoing affordability crisis. Despite passing the House and Senate with overwhelming bipartisan support, President Donald Trump declined to sign or veto the bill within the constitutionally designated 10-day timeline, prompting formal enactment to occur at midnight, without the president's signature.

"I hear from Georgians across the state who have been clamoring for action from Washington on the affordable housing crisis, and this legislation is proof that when we center the people instead of the politics, we can get good policy done," said Senator Warnock. "I'm proud to have contributed to increasing our nation's housing supply and lowering costs for hardworking Georgia families."

Corporate investors have suffocated metro-Atlanta's housing market, with more than 1 in 4 single-family rental homes-over 72,000 properties-owned by large corporations. Corporate investors control more homes in metro-Atlanta than any other area in the country and have begun spreading to every corner of the state.

In addition to the ban on private equity, the 21st Century Road to Housing Act also includes provisions from Senator Warnock's Appraisal Modernization Act, the only fair housing provision in the legislation, and several bills Senator Warnock has championed for years to reform rural housing programs, penalize local governments for failing to meet housing goals, incentivize local governments and banks to invest more in the construction of housing, and provide grants and forgivable loans to help homeowners repair and weatherize their properties.

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