Posted 12/8/2023, 6:23:00 PM
Democrats Target Investor Home Buying With Bills to Ban Purchases and Impose Fees
- Democrats introduced bills in both the House and Senate to ban hedge funds from buying single-family homes
- The Senate bill would force hedge funds to sell off all single-family homes over 10 years and ban future purchases
- The House bill would charge investors a $10,000 annual fee for owning more than 75 single-family homes
- The moves aim to improve home affordability as investors bought 26% of homes in June, up from under 20% pre-pandemic
- Investors say lack of new housing supply is the real issue, but Democrats say investors squeezed out buyers and amplified shortages