Atlanta Mayor Andre Dickens endorsed Senator Reverend Warnock's provision that bans large private equity corporations from mass purchasing single-family homes

The bipartisan 21^st Century ROAD to Housing Act, which includes Senator Warnock's private equity ban, passed out of the Senate last week by a vote of 89-10

Georgia's housing market is suffocated by private equity, with more than one in four single-family rental homes in Atlanta owned by large corporations

Mayor Andre Dickens: "A special thank you to Senator Warnock for his tireless leadership in stopping the spread of large corporate investors who harm our neighborhoods and for creating a clearer path to homeownership for thousands of Atlanta families"

Washington, D.C. - Today, Atlanta Mayor Andre Dickens endorsed Senator Reverend Raphael Warnock's (D-GA) legislation to ban large investors, including private equity, from mass purchasing single-family homes. The Senator's provision, included as part of the comprehensive 21^st Century ROAD to Housing Act package, was passed by the Senate by a vote of 89-10 on March 12.

"This landmark legislation strengthens our Neighborhood Investment Initiative by providing new tools to preserve housing, tackle blight, and hold bad actors accountable for practices that make it harder for the average person to get and keep a home," said Mayor Andre Dickens. "By removing barriers to housing production and supporting homeownership, this bill helps expand opportunity and move Atlanta closer to a more equitable future for all. A special thank you to Senator Warnock for his tireless leadership in stopping the spread of large corporate investors who harm our neighborhoods and for creating a clearer path to homeownership for thousands of Atlanta families."

"I'm thrilled that a provision that I negotiated to stop private equity and large corporations from mass purchasing single-family homes is on its way to becoming law," said Senator Reverend Warnock. "Let me make it plain: private equity's greed is squeezing first-time homebuyers out of the market and pushing the American Dream further out of reach. I thought Congress ought to get something done; that's why I've worked tirelessly for months to get this over the finish line."

Last spring, the Senator introduced a transformative housing package, including legislation to close tax loopholes that have helped large corporations mass purchase single-family homes, which served as a starting point for the bipartisan private equity ban that is on its way to becoming law as part of the 21^st Century ROAD to Housing Act.

The bipartisan housing package has already gained the support of 27 organizations, with more endorsements added each day.

For more information about Senator Warnock's provision to ban private equity from mass purchasing single-family homes, click HERE.