Raphael Warnock championed the 21st Century ROAD to Housing Act, which restricts large private equity firms from purchasing additional single-family homes.

The administration announced the passage of the 21st Century ROAD to Housing Act, a bipartisan federal law designed to curb the dominance of large private equity firms in the single-family housing market. The legislation prohibits companies owning more than 350 homes from purchasing additional single-family units, a move intended to prevent corporate investors from outbidding individual families with all-cash offers. Raphael Warnock, who championed the bill, noted that the policy centers on people rather than politics. The law also includes measures to increase housing supply, modernize appraisals, and provide grants for home repairs. Real estate data from Parcl Labs shows that institutional investors have already more than doubled their "for sale" listings since early February in response to the new rules. While the law does not force companies to sell their current inventory, it encourages a shift toward "build-to-rent" models. Experts suggest that while immediate changes may be gradual, the legislation aims to improve long-term affordability for first-time buyers and families across the country.

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