WASHINGTON — The Senate is scheduled to pass the bipartisan ROAD to Housing Act on Monday, June 23, 2026. The legislation bans corporate investors holding 350 or more housing units from purchasing single-family homes.

The bill aims to increase housing supply and lower prices. The House of Representatives is expected to provide its final approval later in the week of June 22, 2026, after which the bill will be sent to President Donald Trump, who has indicated support for the measure.

The legislation would streamline environmental reviews and accelerate the construction process. It would also provide Community Development Block Grant money to local governments that exceed the median rate of homebuilding. The bill includes provisions for converting abandoned infrastructure into housing and offers a framework for communities to reform zoning regulations. Senate Banking Committee Chairman Tim Scott stated the measure was the result of years of work to "lower costs, expand housing supply, cut red tape, protect taxpayers, and help more Americans achieve the dream of homeownership."

The legislation allows banks to increase their investments in affordable housing. It also raises limits on the number of public housing units eligible for private financing through Section 8 funding for rehabilitation. Additionally, the bill removes outdated requirements and expands federal financing for manufactured homes.

Senator Elizabeth Warren, the top Democrat on the Senate Banking Committee, said, "I believe the bill is significant because it acknowledges that the federal government has a role to play in lowering housing prices and because for the first time ever, private equity will be blocked from buying up single family homes and trying to turn housing into one more Wall Street investment." Warren also said, "Manufactured housing produces some of the most cost-effective housing in America, but access to financing has been tightly restricted." She added, "This creates the opportunity for more manufactured housing and, at the same time, creates a structure for people living in manufactured housing communities to organize and protect their investment in their homes."

Neil Bradley, executive vice president, chief policy officer, and head of strategic advocacy at the U.S. Chamber of Commerce, said, "With America facing a shortage of over 4.7 million homes, expanding supply remains the most effective and sustainable way to improve affordability, support workforce mobility, and strengthen local economies." He also said, "This supply-focused package would incentivize housing development by modernizing federal housing programs, reducing regulatory barriers, preserving residential and multifamily rental housing options, increasing pathways to homeownership, and encouraging much needed investment and new construction."

An earlier Senate proposal sought permanent authorization for a federal disaster recovery block grant program, but the final version of the legislation establishes a three-year authorization. The final legislation also omits a provision that would have required investors to sell newly constructed homes within seven years.