ATLANTA — The U.S. Senate is expected to vote today on new federal housing legislation that includes a provision from Georgia Senator Raphael Warnock targeting investment companies that are buying up single-family homes.

“Atlanta is ground zero for private equity’s domination of the housing market,” Senator Warnock said during a call with reporters. “It’s pushing the American Dream out of reach for families.”

A Georgia State University study found that 30% of the single-family homes for rent in Metro Atlanta are owned by large institutional investment companies. Housing advocates argue that it crowds out the market for first-time homebuyers.

Warnock’s provision, included in the bipartisan ROAD to Housing Act, would impose fines on investment companies that try to buy more than 350 single-family homes.

Atlanta realtor Jackie Dyer told WSB these investment companies put young homebuyers at a disadvantage. “Because they can buy quickly and in volume,” Dyer explained. “They usually pay cash to a seller that discourages [the seller] from taking a government-backed loan, an FHA loan or a VA loan.”

The issue of investor-owned homes has even captured President Trump’s attention. In January, Trump signed an executive order on the subject. “It is the policy of my Administration that large institutional investors should not buy single-family homes that could otherwise be purchased by families,” the order says. “People live in homes, not corporations.”

Opponents have argued that restricting who someone can sell their home to inserts the government into the process and would negatively impact the free market. If approved in the Senate, the bill still faces an uphill climb in the House.