Corporate Homeownership: How WA State Senate Bill 5580 and Trump’s Proposal Could Impact Homebuyers

Housing affordability continues to be one of the biggest concerns for homebuyers across Seattle, King County, and the greater Puget Sound region. As prices remain high and inventory tight, both state and national leaders are focusing more attention on the role corporations and large investors play in the housing market.

Two recent developments highlight this growing focus: Washington State Senate Bill 5580 and a national proposal announced by Donald Trump via Truth Social last night.

While these efforts take very different approaches, they reflect a shared concern about how large-scale investors may be affecting access to homeownership.

Washington State Senate Bill 5580: Transparency, Not a Ban

At the state level, lawmakers have introduced Senate Bill 5580, which focuses on tracking and transparency rather than restricting ownership.

Senate Bill 5580 states that in 2022, 22% of the single-family homes sold were purchased by corporate entities, often targeting lower priced homes.

If passed, SB 5580 would create a Corporate Homeowner Registration Program requiring corporations, LLCs, and certain trusts that own 20 or more single-family homes or condominiums in Washington to register with the state.

The registry would collect data such as:

• How many homes large entities own
• Where those homes are located (including Seattle and King County)
• Purchase prices and property use (rental vs. vacant)
• Where the company operates, including out-of-state or international ownership

The program would be overseen by the Washington State Senate through the Secretary of State’s office.

Importantly:
SB 5580 does not ban corporations from owning homes. It does not affect owner-occupied homeowners or small local investors. Its purpose is to give policymakers accurate data before considering any future housing policy changes.

As of early 2026, the bill is still moving through the legislative process and is not yet law.

A National Contrast: Trump’s Call to Ban Corporate Home Purchases

At the national level, the conversation has taken a sharper turn.

Last night via a Truth Social post, Trump said he wants to ban large corporations and institutional investors from purchasing single-family homes nationwide, arguing that “homes are for people, not corporations.”

Unlike Washington’s approach, Trump’s proposal would be a direct restriction on corporate ownership if enacted. At this stage, it is a policy proposal, not law, and would require congressional action to take effect.

Why This Matters for Seattle and King County Homebuyers

For buyers in Seattle, Bellevue, Redmond, and throughout King County, these discussions matter — even if no immediate changes are happening yet.

• Washington’s SB 5580 could provide clearer data on where and how corporate ownership is concentrated locally.
• Federal proposals, like Trump’s, signal growing bipartisan concern about housing affordability and competition from large investors.
• Any future policy changes would likely be shaped by the data collected through efforts like SB 5580.

For now, neither initiative changes today’s buying rules, loan programs, or property rights — but they do show where housing policy discussions are headed.

Final Thoughts

As someone who works every day with first-time buyers across Washington state, I firmly believe that homes should be owned by people — not treated as financial instruments by large corporate investors. Homeownership remains one of the most powerful ways for individuals and families to build long-term financial security, stability, and opportunity.

In markets like Seattle and the surrounding areas, affordability is already a challenge. When large corporate entities compete in the same price ranges as first-time buyers, it can make that challenge even greater. Creating more opportunities for people — not portfolios — to purchase homes is essential if we want to support sustainable, community-driven growth.

We need more affordable housing solutions, and ensuring that entry-level homes are accessible to local buyers is a meaningful place to start. Policies that bring transparency to corporate ownership — and thoughtfully limit corporate participation in the affordable housing space — can help restore balance and give more first-time buyers a fair chance at homeownership. Does this solve everything? Probably not – but as I stated above, corporations should not be buying up affordable housing stock for the purpose of treating it like a stock traded on Wall Street.

Helping people understand their options and build a strong financial foundation through homeownership is at the heart of what I do — and it’s why these conversations matter.

There are programs and strategies to help create affordability for homebuyers. If you’re thinking about buying a home or would like to learn more, let’s talk!