Senator Warnock’s Legislative Efforts Aim to Curb Corporate Home Purchases
In a bid to make home ownership more accessible for families across Georgia and the United States, Senator Raphael Warnock has been instrumental in pushing a legislative measure that seeks to limit corporate purchases of single-family homes.
This initiative is part of the 21st Century ROAD to Housing Act, which includes a provision authored by Warnock. The legislation imposes restrictions on the number of single-family homes that large corporations can acquire. According to Senator Warnock, “The enforcement mechanism is in the legislation itself. And so once you get beyond the limit, it’s a $1 million fine per home or 3 times the purchasing price, whichever is highest.”
The Senator advocated for a stricter cap of 50 homes, but the final legislation set the cap at 350 homes, far below the administration’s proposed limit of 1,000. “We landed here and so what this means in effect is that this will stop the spread,” Warnock emphasized.
This bipartisan act has become law, even without President Trump’s signature. Warnock highlights the urgency of the issue by noting that the country currently faces a deficit of five million housing units.
