New Legislation to Restrict Hedge Fund Ownership in Housing

Representative Adam Smith and Senator Jeff Merkley have introduced the End Hedge Fund Control of American Homes Act of 2023, targeting the growing issue of hedge funds owning single-family homes. This trend has exacerbated housing unaffordability and wealth inequality, making homeownership challenging for middle-class Americans. The bill proposes to ban hedge funds from owning these homes and mandates the sale of at least 10% of their current single-family home holdings to families annually over a decade. This move aims to counter the post-2008 crisis trend of large investors dominating the housing market, often leading to high rents and poor maintenance.

Supported by various housing advocacy groups, the legislation seeks to promote homeownership and address housing consolidation, especially benefiting communities of color.

Read more about the proposed bill here: https://adamsmith.house.gov/2023/12/representative-smith-and-senator-merkley-lead-bicameral-action-to-ban-hedge-fund-ownership-of-residential-housing