Posted 12/12/2023, 5:40:44 PM
Bill proposes limiting hedge fund home purchases to address housing affordability
- New bill proposes banning hedge funds from buying single-family homes, forcing them to sell current holdings over 10 years
- Kevin O'Leary argues against bill, says Wall Street provides needed funding for housing market at lowest cost
- Bill's sponsor, Sen. Jeff Merkley, says investors driving up home prices and rents, homes should not be "profit centers for Wall Street"
- Opponents fear bill could limit new housing supply and worsen rent inflation
- Jeff Bezos-backed startup Arrived defends investors, says it helps more people afford homeownership