Congresswoman Mary Miller Introduces American Family Housing Act

WASHINGTON, D.C. — Congresswoman Mary Miller (R-IL) has introduced the American Family Housing Act, following President Donald Trump’s executive order, “Stopping Wall Street From Competing With Main Street Homebuyers.”

The American Family Housing Act directs the Securities and Exchange Commission (SEC) to restrict large institutional investors from purchasing single-family homes, putting an end to Wall Street firms driving up prices and pushing American families out of the housing market.

“Homeownership is the foundation of the American Dream,” said Congresswoman Mary Miller. “But today, hardworking families are competing with massive Wall Street firms that are buying up single-family homes and pricing Americans out of their own communities. President Trump is right to confront this crisis, and my American Family Housing Act ensures homes are owned by families, not large institutional investors.”

According to the National Association of Realtors, the average first-time homebuyer is now 40 years old, with first-time buyers making up just 21 percent of the market. A 2024 Government Accountability Office study estimated that institutional investors collectively own roughly 300,000 homes nationwide, with ownership heavily concentrated in metropolitan areas. In some cities in America, institutional investors own 25% of single-family rentals.

The American Family Housing Act:

• Directs the Securities and Exchange Commission to monitor and enforce restrictions preventing large institutional investment firms from purchasing single-family homes.
• Applies to companies with more than $100 billion in assets under management, ensuring small landlords and local investors are not affected.
• Prohibits indirect ownership schemes designed to evade enforcement.
• Implements restrictions 100 days after enactment to ensure market stability.
• Applies only to future home purchases, with no forced divestment of existing properties.

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