EP#78 Richard Ross & Mike Kingsella | The Bizarre Push To Kill Build-To-Rent

A seismic policy shift in Washington, D.C., is threatening to collapse the build-to-rent (BTR) housing market—a sector that has quietly added 50,000 new rental units annually—by mandating that developers with more than 350 units sell their properties within seven years. This provision, tucked into the 21st Century Road to Housing Act, has already frozen capital flows, halted construction, and created a crisis of uncertainty across the industry. The legislation, pushed by Senator Elizabeth Warren and backed by a bipartisan majority, targets BTR and single-family rentals under the false premise that institutional investors are crowding out homeowners. But as Richard Ross of Quinn Residences reveals, the real victims are families who need affordable, family-sized rental homes—especially those who can’t afford down payments or credit hurdles. The policy is not only regressive but economically nonsensical: it ignores that BTR developers are not home builders, that townhomes are not easily convertible to condos, and that forcing evictions after seven years would displace renters who rely on these communities. Meanwhile, Senator Brian Schatz’s powerful floor speech exposed the bill’s absurdity, calling it 'positively Soviet'—a damning indictment of a law that punishes supply creation. With the House now holding the bill, and a growing coalition of pro-housing advocates pushing back, the outcome could redefine America’s housing future. The stakes?