A bipartisan Senate duo is teaming up on legislation that would ban large investment firms from snapping up single-family homes, a measure they say is aimed at the country's housing affordability crunch.

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.

  • thisorthatorwhatever@lemmy.world
    3·
    19 hours ago

    Institutional investors own roughly 2% to 25% of single-family rentals

    2% seems like a large number, that is 1 out of every 50 homes. That’s 1 house on every street.
    25% just seems insanely large.

    • Asafum@lemmy.world
      31·
      18 hours ago

      They state, and I made italic, that the number over 2% are all “mom and pop” investors. Those that would be nowhere near the $150 million limit the law would affect.