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.

  • Fermion@feddit.nl
    1·
    18 hours ago

    That’s why the homestead credit would only be payable to the resident. Residency is what matters here not the paper owner.

    I won’t claim there aren’t potential loopholes in a casually described plan, but the one you brought up doesn’t apply without fraudulent claims of residency.