Senator Raphael Warnock is celebrating a measure aimed at helping Georgia families and those around the nation, purchase homes.
The Senator authored a provision of the 21st Century ROAD to Housing Act. The federal legislation limits the number of single-family homes large corporations could purchase.
"The enforcement mechanism is in the legislation itself,” according to Senator Warnock. “And so once you get beyond the limit, it’s a $1 million fine per home or 3 times the purchasing price, whichever is highest.
Uh, and so most of the corporations, almost all of them in, in, uh, our area that are mass producing these homes, they're already at 350, which is the cap.”
Warnock had pushed for a limit of 50 homes, compared to the administration’s limit of 1,000.
“We landed here and so what this means in effect is that this will stop the spread.”
The bipartisan act became law without President Trump’s signature. Warnock says the United States is five million housing units short.
