Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, issued the following statement in response to the Treasury Department's proposed rule implementing restrictions on large institutional investors purchasing single-family homes under the bipartisan 21^st Century ROAD to Housing Act.

“Today, the Treasury moved forward to implement one of the most important provisions my colleagues and I worked hard to secure in the overwhelmingly bipartisan 21^st Century ROAD to Housing Act: stopping Wall Street investors from buying up single-family homes. For too long, billion-dollar corporations have been snatching up homes while hardworking families are priced out of homeownership. We fought to change that, and despite Donald Trump's temper tantrum and refusal to sign our bipartisan bill, we got it done.

“Congress passed this landmark housing package to increase affordable housing supply, lower housing costs, and expand homeownership opportunities. But make no mistake, we did not pass this historic law just so Wall Street can still find ways to buy up America's homes. Congress was clear. These restrictions must give hardworking families a fair shot at homeownership and protect consumers, not give corporate investors new ways to skirt the law. Treasury must get this right and I will work with them to make sure that they do.”

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