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.
Pass the bill and the refine it over time. People will find loop holes and then those can be closed as needed. Laws don’t need to be perfect at first pass, but getting it on the books would be a huge shift in the right direction.
The loopholes seem super obvious to me. Just have a bunch of $149m real estate trusts, whose shares are owned by another fund.