Senator Bernie Moreno of Ohio called on Congress to pass the 21st Century ROAD to Housing Act in an op-ed published March 12. The proposed legislation aims to codify President Donald Trump’s executive order that prioritizes American homebuyers over large institutional investors.
Moreno said the American Dream, which he described as the ability to buy a home and raise a family, is becoming harder for many Americans. He cited rising home prices and the disappearance of starter homes as key challenges facing families such as teachers, nurses, factory workers, and truck drivers across Ohio.
In his op-ed, Moreno wrote, “Our nation is facing a crisis that strikes at the heart of the American Dream. That dream is simple: the ability to graduate from high school, get a good job, get married, buy a home, raise a family, and retire with dignity. I think of my father-in-law, who joined U.S. Steel straight out of high school, bought a home in Indiana, and raised a family—all on one salary. The question facing us today is: does that American Dream still exist?”
Moreno highlighted concerns about Wall Street firms and institutional investors building entire neighborhoods not for sale but for permanent rental portfolios. He said this trend makes it more difficult for individual buyers to purchase homes. “This is the rise of the single-family build-to-rent industry. Massive Wall Street firms, private equity giants, and institutional investors are constructing whole communities of detached homes not to sell to families, but to hold as permanent rentals,” Moreno said.
He pointed out President Trump’s recent executive order titled “Stopping Wall Street from Competing with Main Street Homebuyers,” which directs federal agencies to limit support for large investors buying single-family homes. Moreno urged Congress to strengthen these protections through legislation.
“With the 21st Century ROAD to Housing Act, a bipartisan housing reform package that includes critical provisions to limit large institutional investors from dominating the single-family market, we have a chance to deliver on what we promised to these voters,” Moreno wrote.
He concluded by saying Congress has an opportunity to defend families’ access to homeownership: “The American Dream isn’t dead, but it’s under siege. Congress now has a chance to defend it by making clear that homes are for families, not corporate rental portfolios.”
