Stopping Wall Street From Competing With Main Street Homebuyers Act

HR 7221, the "Stopping Wall Street From Competing With Main Street Homebuyers Act," restricts large financial investment firms from purchasing single-family homes. It prohibits covered funds (defined as investment companies, REITs, or private funds with over $500 million in assets or significant home ownership) from buying new single-family homes 90 days after enactment. Existing holdings must be sold off over 10 years, requiring annual divestment of at least 10% of homes owned on the bill's effective date. This directly affects major investment firms that buy homes as investments, aiming to reduce their competition with individual homebuyers.