Housing Policy

Bye-Bye Build-To-Rent

Plus: bad arguments in favor of a build-to-rent ban, a tanker plane crash kills four in Iraq, signs the Iran war isn't going so well, and more...

Christian Britschgi | 3.13.2026 9:40 AM

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(Tom Williams/CQ Roll Call/Newscom)

Bye-bye to build-to-rent housing. On Thursday afternoon, the U.S. Senate voted 89–10 to pass House Resolution 6644, otherwise known by its cumbersome title, the 21st Century ROAD to Housing Act.

The bill is essentially an amalgam of two pieces of wonky housing legislation that the House and Senate have been working on for over a year now, and which make a bunch of modest changes to existing regulations and grant programs with the aim of boosting housing supply.

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As passed by the Senate, H.R. 6644 combines the two chambers' reforms and, controversially, includes a ban on large institutional investors purchasing new single-family homes and converting them into rental housing.

That latter provision likely turns the bill from one that would modestly increase new home construction to one that will significantly reduce new home construction.

Estimates vary, but build-to-rent housing comprises anywhere from 3 to 10 percent of new single-family home construction.

Earlier this week, H.R. 6644 was amended to include a policy that would require large investors to sell any build-to-rent units they own after a period of seven years. This provision is part of the bill's wider crackdown on large institutional investors owning single-family rentals.

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