Rep. Sykes Celebrates House Passage of Bipartisan 21st Century ROAD to Housing Act

May 20, 2026 Rep. Sykes Celebrates House Passage of Bipartisan 21st Century ROAD to Housing Act Major Housing Package Advances Key Priorities Similar to Sykes’ HOMES Act to Address Corporate Investors and Expand Housing Opportunity WASHINGTON, D.C. – Today, U.S. Representative Emilia Sykes (OH-13) celebrated the House’s passage of the bipartisan 21st Century ROAD to Housing Act . The comprehensive legislation expands housing affordability and supply nationwide by incorporating several priorities championed in Rep. Sykes’ Homes Over Massive Investors in Neighborhoods (HOMES) Act , particularly efforts to address the role of large-scale institutional investors in local housing markets. “Families in Northeast Ohio deserve a fair shot at owning a home in the communities they love,” said Rep. Sykes. “For too long, deep-pocketed corporate investors have treated homes like commodities instead of the foundation for strong families and neighborhoods. I’m proud to see my HOMES Act priorities reflected in this bipartisan legislation. This is an important step toward lowering costs and putting homeownership back within reach for working families.” Private equity and other Wall Street-backed outside investors are a growing problem in local housing markets and contribute to pushing homeownership further out of reach for many working families. In 2021, investors purchased 16 percent of homes in Cleveland, with one ZIP code reaching 70 percent. In Cincinnati, investors purchased 15 percent of homes, reaching nearly 50 percent in some communities. On one street, a single company purchased 29 homes. Large investors often use technology and all-cash offers to outcompete individual buyers, targeting the same affordable starter homes sought by first-time homebuyers and pricing families out of the market. Rep. Sykes also serves as Chair of the New Democrat Coalition’s Affordable Housing Task Force, where she has helped lead bipartisan efforts to expand housing supply, improve affordability, and strengthen pathways to homeownership. Beyond provisions addressing institutional investors in the housing market, the 21st Century ROAD to Housing Act includes measures to expand affordable housing supply, modernize federal housing programs, reduce regulatory barriers, and support local communities working to address housing shortages. The legislation now heads to the Senate for consideration. Print Email Share Tweet