Making home buying and homeownership more affordable has been a priority for the Trump administration. One way the administration is doing that is by limiting big corporations' ability to buy single-family homes, a move that prices many Americans out of the market.
In his State of the Union address, President Trump said he would make housing affordable and address the issue of big corporations buying and developing housing for rental purposes.
Yesterday, Ohio Senator Bernie Moreno delivered a floor speech on that agenda and the American dream, including urging Congress to pass the 21st Century Road to Housing Act, a bipartisan effort from Senator Tim Scott.
Senator Moreno Delivers Remarks on Homeownership
— The Union Herald (@TheUnionHerald) March 10, 2026
Senator Bernie Moreno (R-OH) delivers remarks on the Senate floor regarding homeownership in America. March 09, 2026. pic.twitter.com/XSN643qDtx
"Madam President, I rise today to address a crisis that strikes at the heart of what makes our nation exceptional: the American dream," Moreno said. "Like many who came before me, I came to America with my family to find my version of that American dream."
"For generations, the catalyst of that dream has been simple and powerful: the ability to graduate from high school, get a good job, get married, buy a home, raise a family in a safe community, send your kids to good schools, and retire with dignity," Moreno continued.
"I think of my father-in-law, who joined U.S. Steel straight out of high school, bought a nice home in a suburb in Indiana," Moreno said. "He raised a family of three kids, all on a single salary. The question facing this body is, does the American Dream still exist and are we still willing to fight for it?"
Recommended
"Ensuring this lives in America should unify all elected officials regardless of political party. But for too many families, whether it's teachers in Ohio classrooms, nurses in Cincinnati hospitals, factory workers in Cleveland, or truck drivers hauling goods across our state, that dream is increasingly out out of reach," Moreno said. "Home prices have skyrocketed, starter homes have vanished and entire neighborhoods are being built not for homeowners but for distant corporations to rent out indefinitely."
"This is the explosive growth of a new industry called the single-family build-to-rent industry. Massive Wall Street firms, private equity giants, and institutional investors are constructing whole communities of detached homes only to lock them up as permanent rentals. These aren't small landlords helping fill a gap," Moreno said. "These are corporate empires turning housing into just another asset class. Just a profit machine for themselves, while denying precious supply of single-family homes from hardworking Americans."
Moreno added, "In Ohio, this impact is real and painful. In Columbus, developments are rising as build-to-rent subdivisions. Families who could once afford modest, three-bedroom homes now face monthly rents of $2,700 or more. Payments that build corporate equity, not equity for that homeowner. In Cincinnati, prime land that should host for-sale starter homes for young families is instead covered up in bulk for rental portfolios controlled by out-of-state investors. And in the working class east side neighborhoods in my hometown of Cleveland, Ohio, institutional and out-of-state investors have snapped up nearly half of all home purchases. Turning once affordable homes into profit machines, while jacking up rents, neglecting repairs, and slamming the door on working families."
"Every home built for rent in Ohio is one less home available for purchase, fueling fiercer competition and driving up prices even higher for everyone else," Moreno said. "The facts are just undeniable. The share of new family homes built specifically for rent has surged to levels far above historic norms. Ten percent in some periods of all new housing starts."
"Those aren't scattered units. They're planned, large-scale communities designed for institutional ownership and endless renting. By crowding out for-sale development, they reduce inventory for first-time buyers," Moreno continued, "they push prices skyward, and they condemn millions to a lifetime of renting. Facing higher rent, endless fees, perpetual instability and no path to building generational wealth."
"The median age of a first-time homebuyer in America is now 40 years old," Moreno said. "That was 33 just six years ago. It's gone up seven years in six."
"The ladder to ownership has been pulled up by corporate interest," Moreno continued.
"Homeownership is the cornerstone of the American dream for a reason. Equity grows over time. Forced renting means your hard-earned dollars line someone else's pockets," Moreno said. "I know this firsthand. Without the equity I built in my first home, I would never have been able to buy my first business. That equity gave me the foundation to take a risk, create jobs, give back to my community, and provide for my family. The exact opportunity we are now denying to millions of Americans."
"And here's the bitter irony: the executives, the developers, the owners running these build-to-rent companies always own their own homes," Moreno said. "They don't rent. They enjoy the stability, the pride, the wealth-building that homeownership provides while denying that same opportunity to working families that power our economy and built this country."
"This crisis isn't inevitable," Moreno went on, "President Donald J. Trump recognized it early and acted decisively. As he said at last month's State of the Union address, homes are for people, not for corporations. He made it clear we must focus on building Main Street, not Wall Street."
"That's why he signed the executive order stopping Wall Street from competing with Main Street homebuyers, directing federal agencies to restrict support for large institutional investors buying single-family homes that families could otherwise purchase. He called on Congress to codify and strengthen these protections. Here in Washington, D.C., highly paid political consultants and so-called experts at think tanks have spilled much ink opining on why the GOP now and Democrats before have lost support from young voters."
"Here's a thought: maybe it's because young Americans know they can no longer afford to buy a home and start their own families like their parents before them did," Moreno said before reviewing some data.
"To start with, President Trump's plan is overwhelmingly popular. A recent poll found that 58 percent of the country supports this plan, including 74 percent of republicans and 58 percent of independents," Moreno said. "Poll after poll has found that President Trump is addressing a top priority for younger Americans. 67 percent of Gen-Z voters struggle to cover their monthly housing costs. 74 percent of younger Americans say the cost of housing has reached a crisis level. And 73 percent of Americans blame large investors for the lack of affordable housing."
"The Republican Party would be fools to bury our heads in the sand," Moreno added.
“I say to my Republican colleagues and to my Democrat colleagues: this moment is a test,” said Moreno. “President Trump proved that by breaking with decades of stale, establishment-driven orthodoxy, he could build an unbeatable coalition. A coalition made up of voters who have for decades abandoned the GOP and who the Democrats have now completely left behind—from Black men to younger voters to Hispanics. So, the question now is this: will Congressional Republicans hear the American people and do what it takes to sustain that coalition? Will we deliver on the promises we made with President Trump on the campaign trail or will we continue to let the D.C. establishment swamp set our agenda?”
"We have a chance to deliver on what we promised these voters," Moreno said.
Editor’s Note: The 2026 Midterms will determine the fate of President Trump’s America First agenda. Republicans must maintain control of both chambers of Congress.
Help Townhall continue to report on the Democrats’ radicalism and inform voters as our nation faces a crossroads. Join Townhall VIP and use promo code FIGHT to receive 60% off your membership.
Join the conversation as a VIP Member