Legislation To Ban Hedge Funds From Owning Homes Introduced
By KIMBERLEY HAAS
A bicameral bill that would force hedge funds out of the single-family home market has been introduced.
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 this week, with Merkley stating, “The housing in our neighborhoods should be homes for people, not profit centers for Wall Street.”
“Yet, in every corner of the country, giant financial corporations are buying up housing and driving up both rents and home prices,” Merkley said in a statement. “It’s time for Congress to put in place commonsense guardrails that ensure all families have a fair chance to buy or rent a decent home in their community at…