Every American deserves access to affordable housing.
John,
We have an affordable housing crisis in America, and corporate greed is making it worse.
Wall Street enables private equity firms to snap up single-family residential homes nationwide, allowing corporations to charge excessive rents and change the dynamics of the housing market. These buyouts block the road to homeownership, making the American Dream harder than ever to reach for working- and middle-class families.
The latest example is a Bezos-owned investment company that invested $500 million in a venture fund to purchase single-family homes.
It’s time for Congress to put an end to Wall Street’s real estate grab by passing my Stop Wall Street Landlords Act. This legislation would ban private equity firms from obtaining loans backed by the Federal Housing Finance Agency and related government entities for the purchase of single-family residential homes. With these tax savings, the federal government would then establish tax credits to offset the cost of constructing or rehabilitating owner-occupied homes for state and local governments.
