Cracking down on build‑to‑rent stalls housing supply

A new wave of federal legislation and local crackdowns aimed at build‑to‑rent developers, combined with tighter capital markets, is already causing build‑to‑rent firms to pause projects or tighten pipelines, according to a survey of industry firms. Those pauses can quickly reverse short‑term momentum in rents and starts, even as headline metrics look healthy. — If true, the trend could meaningfully reduce new rental housing coming online, worsening affordability and politicizing housing finance and permitting debates.