Builders Oppose Senate Housing Bill Over Investor Ban Provision

A powerful group representing the nation’s home builders is coming out against the most significant housing legislation in more than a decade over a provision negotiated by the White House that would restrict institutional investors from purchasing single-family homes.

The builders’ objection could imperil the bill’s chances of becoming law, even as leaders of both parties are desperate to show they are doing something to alleviate voters’ cost-of-living concerns. The Senate voted 90-8 to clear a procedural hurdle for the bill on Wednesday, with a vote on final passage expected early next week.