ATLANTA — Georgia Sen. Raphael Warnock says first-time homebuyers in the state will continue to face competition from investors after President Donald Trump said he will not sign a sweeping bipartisan housing bill.
Warnock said his provision in the legislation would have barred corporations that own more than 350 single-family homes from purchasing additional properties, or they would face fines.
Warnock said this is not right.
“The house on your block is being sold,” Warnock said. “The president could have made sure that house went to a family instead of some out of state, corporate landlord.”
Officials say about 30% of Atlanta’s single-family homes are owned by large investment companies.
Warnock said the issue is a matter of affordability and fairness for working families.
“This president had an opportunity to do something for ordinary people, for working Americans. Instead, he has managed once again to make the story all about himself,” Warnock said.
Trump recently said he will not sign the bill until Congress passes his election overhaul legislation.