The US House of Representatives has made significant changes to the bipartisan housing legislation, removing most exceptions for institutional investors in the purchase of single-family homes.. According to the latest update , the House has taken the Senate version of the 21st Century ROAD to Housing Act and amended it to ban institutional investors from buying single-family homes. The update, which was released on Tuesday afternoon, also affects organized labor provisions in the legislation.

The $21st Century ROAD to Housing Act Amendments

The House's amended version of the legislation left the institutional investor ban in place but removed a provision that would have required investors in build-to-rent homes to sell those houses within seven years.. As the report says,this change comes amid a clash between the two chambers, with the House taking a different approach to the legislation than the Senate.

Removal of Institutional Investor Exceptions

The latest update to the legislation removes most of the exceptions that were added last week to the House's version. According to the report,these exceptions would have allowed institutional investors to purchase more homes than they would have under the Senate's version. The update still cuts the requirement to sell build-to-rent homes after seven years, but removes the other exceptions added last week entirely.

Organized Labor Provisions Affected

The changes to the legislation also affect organized labor provisions. as reported, the House's amended version contained a number of exceptions that would have allowed institutional investors to purchase more homes, but these exceptions have now been removed. The impact of these changes on organized labor is still unclear, and further analysis is needed to understand the full effects of the update.

Next Steps for the Legislation

The next steps for the legislation are uncertain, but according to the report, the House's amended version will likely be sent back to the Senate for further consideration. the Senate may choose to accept the changes or propose additional amendments, leading to further negotiations between the two chambers.