Investors Bought Record Share of Low-Cost Homes in 2022, Sparking Legislation to Aid Families
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Investors bought a record 26.1% of low-priced homes in Q4 2022, highlighting competition families face in the housing market.
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Institutional investors purchased 18.5% of all homes sold in Q4 2022, up from 18.1% in Q4 2021.
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Legislation aims to curb investment firms' influence by limiting purchases of single-family homes to increase availability for families.
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Major institutional players like Progress Residential and Invitation Homes own tens of thousands of single-family rental properties.
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Proposed measures would ban funds from owning single-family homes, mandate 10% annual reduction over 10 years, and add taxes to deter purchases.