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.

  • Lka1988@sh.itjust.worksEnglish
    41·
    19 hours ago

    Let counties and municipalities significantly raise property tax rates then offer homestead tax rebates to the primary resident. Maybe even offer a monthly rebate to match rent/mortgage payments. Rent would go up, but the rebate should match the rent increase.

    As a renter, that will absolutely backfire on us. Rent is already expensive as shit, I’m paying almost double for my current place than I was for my last place. Both were single-family homes.

    • Fermion@feddit.nl
      5·
      18 hours ago

      Currently, large corporate landlords are willing to let housing units sit empty vs letting market rates drop. A company with 500 units makes the same amount leasing 400 units at $1500/mo as they would leasing 470 units at $1300/mo and they have less overhead. The realpage software lets them coordinate with all the other corporate landlords without direct communication.

      The reason I think this policy would help renters is by making vacant units significantly more expensive and pushing corporate property managers to actually compete rather than sit on vacancies.