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.

  • chonglibloodsport@lemmy.world
    2·
    12 hours ago

    Investment funds, not companies. A $150,000,000 fund sounds like a lot but it’s smaller than the pension fund of a mid-sized company (3,000 employees, $50k total contribution per employee on average).