Invitation Homes has adapted to the Road to Housing Act by pivoting to newly built build-to-rent supply and builder partnerships; it maintains low leverage of 25%, is seeing fundamentals bottom with green shoots, and the regulatory framework is now reasonable, so the CEO views the business as properly positioned and a great spot.
The Road to Housing Act is focused on new housing supply and reducing red tape, which gives homebuilders and developers clearer frameworks to grow, and builders have been effectively using mortgage buydowns; this supports new construction and build-to-rent growth.