President Trump is privately raising concerns about build-to-rent provisions in the 21st Century Road to Housing Act. More specifically, he doesn’t support language that would require mega-landlords to sell single-family homes built as long-term rentals after seven years.
According to Politico, Trump agreed to hold off on posting his issues on social media while White House staff work to craft a deal that can win over House Financial Services Republicans opposed to restricting institutional investors from buying single-family homes.
What They’re Saying: Late last week, President Trump told a member of House Financial Services Committee, Rep. Zach Nunn (R-IA), that “He wants the legislation [21st Century ROAD to Housing Act] moving forward. He [said] this is one of the big things we’re trying to do, he wants a renaissance of economic growth that he’s going to preside over and this is a huge part of it.”
What’s Next: Per Politico, “House GOP leadership has an amended bipartisan housing bill in hand and is considering putting it up for a floor vote in the coming weeks, potentially as soon as lawmakers return from recess the week of May 12.“
Up for Growth is holding an all-coalition legislative update on the 21st Century Road to Housing legislation on Thursday, May 7 at 1 PM ET.
