Amid an acute housing shortage, soaring prices, and sky-high rents, a groundbreaking 28% of single-family homes in the United States were snapped up by investors in 2022. The surge in investment has led to growing concerns about affordability, prompting the introduction of a bill aimed at restricting hedge funds from dominating the single-family home market. This phenomenon, potentially influenced by 15 years of quantitative easing and the Federal Reserve’s mortgage-backed securities purchases, highlights the urgent need to address housing inequality and ensure fair access for families seeking to own a home.
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A record 28% of single-family home purchases in America were made by investors in 2022.
This during a time when:
– Shortage of 6.5 million homes
– Home prices at record high
– Rents near record highs
A bill is now being introduced to prevent hedge funds from owing… t.co/bi3RuYv2Ut
— Genevieve Roch-Decter, CFA (@GRDecter) December 8, 2023
Legislation To Ban Hedge Funds From Owning Homes Introduced
A bicameral bill that would force hedge funds out of the single-family home market has been introduced.
U.S. Sen. Jeff Merkley (D-OR) and U.S. Rep. Adam Smith (D-WA) introduced the End Hedge Fund Control of American… pic.twitter.com/Cxce0kWNv4
— floridanow1 (@floridanow1) December 8, 2023