Rep. Sykes Leads on Protecting Homeownership as President Trump Announces Plan Targeting Corporate Homebuyers
WASHINGTON, D.C. – Today, President Trump announced a plan to bar large institutional investors from buying single-family homes, citing concerns over housing affordability. While the president called on Congress to codify his proposal, U.S. Representative Emilia Sykes (OH-13) has been leading the charge on this issue for months.
Over the summer, Rep. Sykes introduced the Houses Over Middle-Class Exploitation Schemes (HOMES) Act, legislation aimed at cracking down on corporate investors purchasing single-family homes, driving up prices, and making homeownership less attainable for everyday Americans. Her bill addresses the same problem highlighted in the president’s announcement: the outsized role of private equity and institutional investors in the housing market. The HOMES Act was referred to the House Ways and Means Committee.
“Americans deserve the opportunity to own a home, not to see their neighborhoods bought up by corporations,” said Rep. Sykes. “The HOMES Act is about protecting families and communities from speculation that drives up costs and pushes homeownership out of reach. I’m proud to have introduced this legislation and will continue fighting for solutions that make housing affordable for everyone.”
Rep. Sykes’ legislation would:
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Prevent institutional investors from profiting off of hoarding additional single-family homes in markets with high housing pressure.
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Increase transparency on corporate homeownership and rental practices.
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Prioritize access to homeownership for local families over investors seeking profit.
The HOMES Act underscores Rep. Sykes’ commitment to defending the American Dream of homeownership in Ohio and across the country.
Rep. Sykes is Chair of the New Democrat Coalition Affordable Housing Task Force.