The Senate passed a bipartisan housing bill limiting institutional investors to purchasing no more than 350 single-family homes each—the first major housing legislation since the 2008 financial crisis. The bill aims to reduce Wall Street competition for residential properties that's been driving up home prices while also including environmental review waivers and incentives for renovating older homes. Both parties framed the measure differently: Republicans emphasized housing supply expansion and regulatory relief, while Democrats highlighted the private equity restrictions as core to affordability.