By ERIN FLYNN JAY
A bicameral bill that would force hedge funds out of the single-family home market is supported by some industry leaders.
Last month, U.S. Sen. Jeff Merkley (D-OR) and U.S. Rep. Adam Smith (D-WA) introduced the End Hedge Fund Control of American Homes Act of 2023. If passed, it would force hedge funds to sell at least 10% of the total number of single-family homes they currently own to homebuyers every year for a 10-year period.
After a 10-year full phase-out, all hedge funds will be completely banned from owning any single-family homes.
In a YouTube video, Merkley said rents are sky-high and families can’t afford to buy a home in their chosen community.
“Hedge funds and…
By ERIN FLYNN JAY
In some urban centers like New York City, Los Angeles, and Miami, Opportunity Zones have led to substantial investments including the revitalization of neighborhoods. These zones attracted developers and investors due to the tax benefits, resulting in new housing developments, commercial spaces, and infrastructure improvements.
However, concerns have arisen about the displacement of existing residents and whether the benefits truly reach the communities that need them most. And while these zones have found success in urban settings, many rural regions have struggled to attract significant investment.
Limited infrastructure, a smaller workforce, and higher perceived risks have made it challenging to draw investors to rural areas. That hurts the low-income neighborhoods Opportunity Zones are meant to strengthen.…
