Bipartisan support for State Representative Nick Kupper’s bill, HB 2325, the Own Something and Be Happy Act, came swiftly on Wednesday.
Kupper’s legislation aimed at preventing large institutional investors from dominating Arizona’s single-family housing market and pushing home prices beyond the reach of working families won immediate support from Rep. Oscar De Los Santos.
Arizona House Democratic Leader De Los Santos tweeted in response to Kupper’s announcement of the bill:
Imitation is the sincerest form of flattery! I welcome the bipartisan support for the legislation I’ve been pushing for years. It is long past time to crack down on corporations that are screwing over working families. @AZHouseDems are fighting for An Arizona We Can Afford
HB 2325 caps corporate ownership of single-family homes, prohibits bulk purchases, and bars institutional investors from bidding on homes during the first 60 days they are listed for sale. The measure is intended to give Arizona residents a fair opportunity to compete for homes in their own communities.
Kupper’s proposal aligns with national policy priorities advanced by President Trump, who has publicly called for banning large institutional investors from buying additional single-family homes and urged Congress to codify protections for American homebuyers.
“President Trump is right to call this out,” Kupper said. “Homeownership has long been central to the American Dream and the reward for hard work. When large investment firms buy up neighborhoods, families lose and prices climb. HB 2325 puts Arizona on the side of working people who want to own a home, raise a family, and stay rooted where they live.”
The bill limits institutional investors to owning no more than 50 single-family homes statewide, blocks bulk acquisitions, and imposes a waiting period before corporate buyers may compete against families for newly listed homes. Investors already above the cap could not acquire additional homes unless they voluntarily reduce their holdings.
HB 2325 exempts nonprofit affordable housing providers, government housing agencies, community land trusts, small property owners, and modest-sized pension or fiduciary funds. The legislation also requires annual reporting through the Arizona Department of Housing and authorizes enforcement by the Attorney General, with local prosecutors empowered to act if the state declines enforcement.
“Housing costs have climbed nationwide as institutional investors expanded their residential footprint, while homeownership rates for younger Americans have stalled,” Kupper said. “In Arizona, population growth and limited housing supply have intensified the squeeze on first-time buyers. This bill draws a clear line. Arizona homes should be owned by Arizona families, not treated like financial instruments by distant corporations.”
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