WASHINGTON – In case you missed it, Senator Bernie Moreno (R-Ohio) wrote a new op-ed in Commonplace calling on Congress to pass the 21st Century ROAD to Housing Act, codifying President Trump’s executive action to put American homebuyers first.
“Our nation is facing a crisis that strikes at the heart of the American Dream. That dream is simple: the ability to graduate from high school, get a good job, get married, buy a home, raise a family, and retire with dignity. I think of my father-in-law, who joined U.S. Steel straight out of high school, bought a home in Indiana, and raised a family—all on one salary. The question facing us today is: does that American Dream still exist?”
“For too many families—teachers in Ohio classrooms, nurses in Cincinnati hospitals, factory workers in Cleveland, or truck drivers hauling goods across our state—the dream is increasingly out of reach. Home prices have skyrocketed, starter homes have vanished, and entire new neighborhoods are being built not for homeowners but for distant corporations to rent out indefinitely.”
“This is the rise of the single-family build-to-rent industry. Massive Wall Street firms, private equity giants, and institutional investors are constructing whole communities of detached homes not to sell to families, but to hold as permanent rentals.”
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“But this crisis need not be inevitable. President Donald Trump recognized it early. As he said at last month’s State of the Union address, “Homes are for people, not corporations.” That’s why President Trump signed an executive order titled, “Stopping Wall Street from Competing with Main Street Homebuyers,” which directs federal agencies to restrict support for large institutional investors buying single-family homes. He called on Congress to codify and strengthen these protections.”
“Here in Washington, D.C., highly paid political consultants and so-called “experts” at think tanks have spilled much ink opining on why the GOP is losing support with young voters. Here’s a thought: maybe it’s because young Americans know they can no longer afford to buy homes and start their own families like their parents did?”
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“With the 21st Century ROAD to Housing Act, a bipartisan housing reform package that includes critical provisions to limit large institutional investors from dominating the single-family market, we have a chance to deliver on what we promised to these voters.”
“By building on the president’s executive actions—curbing their access to federal financing and preventing them from crowding out individual buyers—we’re putting families first, increasing paths to ownership, and ensuring more new homes are built for sale, not for endless corporate rental portfolios.”
“The American Dream isn’t dead, but it’s under siege. Congress now has a chance to defend it by making clear that homes are for families, not corporate rental portfolios.”
Read Senator Moreno’s full op-ed HERE.