Trump’s housing agenda depends on fixing the Senate’s mistake

Aspirational Americans are being priced out of homes. A recent poll found that 65% of Americans believe they will not be able to purchase a home “in the foreseeable future.” Singles who want to put down roots and families who want to grow are growing discouraged about their prospects. So when the Senate passed a bipartisan housing bill 89-10 in March, there was reason for cautious optimism. Congress seemed ready to legislate, for a change.

But the Senate included a harmful provision that would stymie the construction of new homes.

Buried in an otherwise constructive package that streamlines environmental reviews, modernizes manufactured housing rules, and updates multifamily financing tools is a provision bearing the unmistakable fingerprints of Sen. Elizabeth Warren (D-MA) and her colleagues in the Congressional Progressive Caucus. It mandates that institutional investors must sell build-to-rent homes within seven years of construction.

OPINION: ELIZABETH WARREN’S HOUSING BILL IS ALREADY STOPPING DEVELOPMENTS.