House committee reviews H607 aiming to curb large institutional ownership of single-family homes

The House Committee on General and Housing on March 17, 2026 heard several hours of testimony on H607, a proposal to limit institutional real estate investment in single- and two-family residences, and on related provisions in the federal 21st Century Road to Housing Act.

Miles McGerman, who identified himself as an outreach representative for U.S. Senator Peter Welch, told the committee the federal package combines multiple housing measures and includes a "homes are for people not corporations" section (Title 9) that would cap a large institutional investor's holdings of newly built single-family units at 350 and require any units above that threshold to be sold within seven years. "It restricts the purchase of new single family homes by large institutional investors that directly or indirectly own at least 350 single family homes," McGerman said, adding the Senate language focuses on new build-to-rent developments and not purchases of existing, used homes.

Why it matters: committee members said Vermont's market is smaller than markets targeted by the federal provision and urged care so the state bill does not unintentionally pull in mission-driven developers, nonprofits or local land banks. Several lawmakers asked whether the seven-year sell-down would impose loss of a homeowner's right to sell; McGerman said the federal text includes a right of first refusal for current occupants when sell-downs occur and offered to research additional…