Hinson Votes to Stop Wall Street Investors from Buying Up Iowa’s Single-Family Homes
Washington, D.C. — Congresswoman Ashley Hinson (IA-02) released the below statement following tonight’s House passage of the 21st Century ROAD to Housing Act — one of the most significant and bipartisan housing bills Congress has considered in decades — that will lower housing costs, expand housing supply, and help more families achieve the American dream of home ownership.
The legislation includes a provision pushed by Hinson to address a growing problem in communities across the country: large institutional investors buying up single-family homes and driving Iowa families out of the market.
“The American Dream starts with having a place to call your own. Right now, that dream feels out of reach for too many Iowa families. Government regulations can account for as much as 25% of the cost of building a new single-family home, while Wall Street investors are outbidding families who simply want a place to raise their kids.
"Good things happen when we work together – this bipartisan package is a good first step and will help make buying a house more affordable for Iowa families.” — Congresswoman Ashley Hinson
This package will:
- Cut unnecessary regulations that drive up housing costs and delay home construction, helping builders bring more homes to market faster.
- Modernize federal housing programs and expand financing tools to increase housing supply and improve affordability.
- Strengthen community and rural banks by reducing red tape and expanding their ability to lend to homebuyers, families, farmers, and small businesses.
In Congress, Hinson has championed efforts to expand housing supply, most recently introducing bipartisan legislation to help families save tax-free for a down payment. She has also secured federal funding for affordable housing in Iowa.
More information about the 21st Century ROAD to Housing Act here.
###