The legislation, known as the Homes for American Families Act, would amend the landmark Sherman Antitrust Act of 1890 to make it illegal for investment funds with over $150 million in assets to buy single-family homes, condominiums or townhouses. It doesn’t apply to homebuilders that are constructing units for sale.
I wonder where they came up with that number? On the one hand, it seems quite large. But on the other hand, in some markets simply having 150 units under management would push you over that limit.
I imagine it’s something like ‘grab the 99th percential of home prices in the US and average it, then round to a nice number’. There are some (though very few) single structures classified as single-family homes which would push you over that limit.
I’d imagine the core idea is to try and limit investing for individuals only - not organizations.