Name: Legislation To Ban Hedge Funds From Owning Homes Finds Support
Uploaded: 2024-01-02T05:00:48-05:00
Channel: TMN Editor
Description: 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

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…