A housing summit planned for Wednesday, August 12, 2026, in Kansas City will focus on a new federal law that Missouri Congressman Emanuel Cleaver says is designed to increase the supply of affordable housing.
Cleaver said the law includes changes aimed at making it easier to build manufactured housing, particularly in rural areas. He told Missourinet the measure helps developers by expanding access to federal financing and allowing more time for repayment.
“We’re making it easier for developers to come into rural areas to do that because we’re allowing them to have loans from USDA or from HUD for that matter, and we’re extending the period of time that a developer would be paying back that loan,” Cleaver said.
The law also addresses the role of large investment firms in the housing market. Cleaver said the measure limits the number of single-family homes large institutional investors can buy and sell.
“What we have said now is that no institution, no big corporation can have more than 350 single-family homes that they buy and sell,” he said.
Companies that already own more than 350 homes can keep those properties, but Cleaver said the law is intended to prevent additional accumulation of single-family homes by large corporate investors.
He said the restriction does not apply to multifamily housing developments.
“Now you can go more than 350 units for housing, multifamily housing, but you can’t go and buy single-family homes,” Cleaver said. “The president and I agree on this. He said homes are for people, not corporations. And I agree with that. He didn’t sign the bill, but nonetheless, he was right on that point.”
Cleaver said corporations currently own about 3% of the nation’s single-family housing stock, but he believes the percentage has been growing. He said the new law is intended to expand housing opportunities for individuals and families while encouraging additional construction.
The Kansas City summit will bring together local, state, and housing leaders to discuss how the law can be implemented and what it could mean for Missouri communities.
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