Bill > S3937

This bill, titled the "Homes for American Families Act," proposes to amend the Sherman Act, a foundational U.S. antitrust law that prohibits anticompetitive business practices, by adding a new section that specifically targets certain entities' purchases of residential real estate. The bill defines "covered entities" as real estate investment trusts (REITs), insurance companies, and investment companies or private funds managing at least $150 million in assets, or those controlled by such entities. The core provision deems any purchase of residential real estate, defined as single-family homes, condominiums, townhouses, or land zoned for such development, by these covered entities as a civil violation of antitrust law, meaning it would not carry criminal penalties like imprisonment. However, this prohibition would not apply to homebuilders, developers, or redevelopers if they are constructing units for ownership by individuals or entities not prohibited from purchasing. The bill also mandates that the Assistant Attorney General of the Department of Justice's Antitrust Division prioritize reviewing and enforcing antitrust laws against anticompetitive practices by these covered entities in local housing markets, such as coordinated vacancy or pricing strategies.

Justice

https://www.congress.gov/bill/119th-congress/senate-bill/3937/all-info