U.S. Senator Jacky Rosen of Nevada has unveiled new legislation aimed at easing the nation’s housing affordability crisis. The measure, known as the Housing Oversight and Mitigating Exploitation (HOME) Act, seeks to curb price gouging by corporate investors who are buying up homes and driving costs higher, making it increasingly difficult for middle- and lower-income Americans to find affordable housing.
“Hardworking families across Nevada are feeling the pressure from rising home costs,” said Sen. Rosen. “A significant part of this problem is caused by large corporate investors snapping up properties and inflating prices. The HOME Act is designed to put an end to that practice and help ensure every Nevadan has access to an affordable, safe place to call home.”
Key Provisions of the HOME Act
The legislation proposes several new measures to monitor and regulate housing markets:
- Price Gouging Restrictions: It would make it illegal to sell or rent residential units at unreasonable prices during an affordable housing crisis.
- Market Oversight: The Secretary of the Department of Housing and Urban Development (HUD) would be empowered to investigate whether home prices are being manipulated through artificially limiting housing supply or other unfair practices.
- Corporate Investor Monitoring: HUD would track corporate home purchases, specifically flagging cases where a single institutional investor acquires more than 5% of single-family units in a market over three years, or over 25% in one year, to ensure fair competition and prevent price manipulation.
- Cross-Agency Data Collection: The Federal Trade Commission (FTC), Consumer Financial Protection Bureau (CFPB), and HUD would be authorized to collect and analyze data on unfair rental and purchasing practices that prevent households from accessing housing.
- Limits on GSE Investments: Investments from government-sponsored enterprises like Fannie Mae and Freddie Mac would be restricted from going to organizations with histories of raising rents excessively or violating tenant protections.
- Anti-Competitive Review: The Department of Justice (DOJ) and FTC would jointly review potential anti-competitive behavior in the residential housing market.
“Sen. Rosen has consistently championed affordable housing in Nevada,” said Maurice Page, Executive Director of the Nevada Housing Coalition. “The HOME Act demonstrates her commitment to making housing more equitable. It addresses both immediate affordability issues and long-term market fairness, ensuring that families are not priced out of the communities they live in.”
Housing Market Context
While for-sale housing inventory has improved slightly in recent months, the benefits are unevenly distributed. A recent National Association of Realtors (NAR) report showed that inventory for sale increased nearly 20% year-over-year. Middle- and upper-middle-income buyers, earning $75,000 to $100,000 annually, have seen modest gains: the share of listings affordable to these households rose from 20.8% in March 2024 to 21.2% in March 2025.
However, these gains are far from pre-pandemic levels. In 2019, buyers in this income bracket could afford nearly half of all active listings 48.8% while a balanced market would ideally offer access to roughly 48.1%. This suggests a shortfall of around 416,000 homes priced at $255,000 or below.
For lower-income households earning less than $50,000 per year, conditions have worsened. Affordable homes priced under $170,000 are increasingly scarce, leaving many first-time and low-income buyers with limited options.
Rosen’s Broader Housing Initiatives
Sen. Rosen has consistently worked on multiple fronts to ease housing pressures. Earlier this year, she introduced the First-Time Homebuyer Tax Credit Act, offering tax credits to help new buyers enter the housing market. She has also joined the bipartisan Affordable Housing Credit Improvement Act, designed to incentivize the construction of affordable housing in Nevada and nationwide.
Beyond legislation, Rosen has taken action to prevent additional housing cost pressures from external factors. She has pushed for a reversal of tariffs on Canada and Mexico, warning that these levies could further inflate construction costs and, by extension, home prices.
“The HOME Act isn’t just about legislation it’s about creating a housing market that works for people, not just for investors,” Rosen said. “Our goal is to ensure fair competition, protect renters and buyers, and expand access to affordable homes for all Americans.”
Housing analysts note that if implemented, the HOME Act could reshape local real estate markets by limiting excessive corporate investment, improving transparency, and promoting affordability. For Nevada in particular, the bill could provide much-needed relief to households that have struggled to keep pace with rapidly rising housing costs over the past decade.
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