Assemblymember Alex Lee Applauds Bipartisan Federal Ban on Corporate-Owned Single-Family Homes

• Nicholas Chan
• Communications Director, Office of Assemblymember Alex Lee
• (916) 319-2392
• [email protected]

Assemblymember Alex Lee released the following statement after Congress passed the 21st Century Road to Housing Act, which bans corporate landlords from buying up any more single-family homes:

"The 21st Century Road to Housing Act is a major win in restoring homeownership opportunities for working families. For far too long, Wall Street has monopolized our neighborhoods and made our limited supply of for-sale homes even more limited. By tapping into their vast wealth, private equity firms are outcompeting first-time homebuyers with all cash offers. The bipartisan federal ban is a crucial step in stopping Wall Street greed, and making the American dream of owning a home more attainable for everyday families."

Since 2024, Assemblymember Lee has been leading California's efforts to ban corporate-owned single-family homes by introducing legislation to tackle the issue. No single investor owned more than 1,000 single-family homes prior to 2011. By 2022, large institutional investors owned over half a million single-family homes in the U.S. The country's largest single-family home landlord Invitation Homes owns roughly 11,000 homes in California alone. Nationwide, recent polling shows that voters overwhelmingly support a ban on large corporate investors from buying additional single-family homes.