Chapotraphouse

The first few paragraphs

The Senate on Thursday passed the largest housing affordability bill in 30 years, including a ban on investors from buying single-family homes, with a 89-10 vote.

But the bill faces an upward battle in the House, which passed its own bipartisan legislation in February. House GOP leaders have already said the measure will need to be negotiated, suggesting they will not take up the Senate-passed bill. House Minority Leader Steve Scalise, R-La., earlier this week told fellow House Republicans in a closed-door meeting that the measure is likely to bog down over differences between the two chambers’ versions.

One of the biggest issues is a ban on investors and companies from buying single-family homes if they already own 350 or more. Companies that add to the housing supply through building or serious renovations would be able to own more homes, but would need to sell those homes after no more than seven years.