ICYMI: Warnock’s Restrictions on Private Equity in Housing Secures Three New Key Endorsements

The Senate recently passed the21stCentury ROAD to Housing Act, which included Senator Warnock’s provision that stops the spread of private equity in housing
Last week, Senator Warnockhosteda press conference in Paulding County to highlight the issue of large corporations buying up single-family homes in Georgia
Senator Reverend Warnock, during last week’s press conference:“Private equity and major corporations have been buying up thousands of single-family homes that should be available for Georgians who want to purchase a piece of the American dream. But for years, dreams have been deferred because too many are finding themselves in fierce competition with private equity”
Washington, D.C.– In March, Georgia Senator Reverend Raphael Warnock’s (D-GA) provision to restrict private equity in housing waspassedin the Senate as part of the bipartisan21stCentury ROAD to Housing Act. Since then, Senator Warnock’s provision has gained endorsements from several major housing organizations and local leaders.
“Private equity and major corporations have been buying up thousands of single-family homes that should be available for Georgians who want to purchase a piece of the American dream,said Senator Reverend Warnock during last week’s press conference.“But for years, dreams have been deferred because too many are finding themselves in fierce competition with private equity. My bill is an important first step in addressing this issue, but there is so much more work that needs to be done. We must remain focused on delivering for the people every single day.”
“Homeownership has long been one of the most powerful pathways to building generational wealth, especially in communities like South DeKalb that have historically been locked out of opportunity,”said DeKalb County CEO Lorraine Cochran-Johnson.“When large institutional investors are allowed to outbid working families and convert neighborhoods into rental markets, it shifts the trajectory of entire communities. I look forward to working alongside Senator Reverend Raphael Warnock to take bold action to protect access to homeownership and ensure that the American Dream remains within reach for the people who live, work, and invest in our communities every day.”
“At the Urban League of Greater Atlanta, we see firsthand how the unchecked expansion of private equity in housing is restricting access to affordable homes, shrinking the supply of owner‑occupied housing, and destabilizing communities across Georgia and the nation,”said Nancy Flake Johnson, President and CEO of the Urban League of Greater Atlanta.“When large institutional investors outbid working families and convert single‑family homes into speculative assets, the result is rising costs, fewer opportunities for homeownership, and devastating long‑term consequences for families seeking stability and generational wealth. Senator Reverend Raphael Warnock’s leadership to confront these practices is a critical step toward protecting affordable housing, preserving community integrity, and ensuring that the American Dream remains attainable for everyday Georgians and families across the country.”
“Homeownership isn’t just about having a place to live. It’s often the first piece of capital a family can truly control. The equity built in a home can become the seed for something bigger: a small business, a new idea, a second chance. I know that firsthand because I launched my own small business that way. When people have ownership, they have options, and those options can turn into opportunity not just for themselves, but for the entire community,”said the Mayor of College Park, Bianca Motley Broom.
Since coming to the Senate, Senator Warnock has worked to increase affordable housing and illuminate a path to homeownership. As one of twelve brothers and sisters growing up in public housing in Savannah, Senator Warnock deeply understands the importance of having a place to call home and homeownership. Last spring, the Senatorintroduceda transformative housing package that would address rising rental costs, down payment fees, and the overall lack of available housing units. The Senator also partnered with the top Democrat on the Senate committee that oversees federal housing policy to introduce legislation that would build nearly three million new housing units.
Bill text can be viewedHERE.