[1]Ro Khanna

Friend,

Once upon a time, the American Dream was to buy a home and generate wealth
through that investment. But that’s becoming increasingly difficult in
today’s housing market, in large part due to Wall Street’s growing control
of single-family residential homes nationwide. Pushing the narrative of
“Renting the American Dream,” Wall Street is closing the road to
homeownership for many with taxpayer support.

That’s why I’ve introduced the Stop Wall Street Landlords Act of 2022.
This bill 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, while also cutting off
taxpayer funding for existing loans. With these tax savings, the federal
government would then establish neighborhood homes tax credits to offset
the cost of constructing or rehabilitating owner-occupied homes for states
and local governments.

[ [link removed] ]Sign if you agree: It’s time to put a stop to Wall Street landlords.

We’ve seen the impact that this mass buyout of housing stock has had on
the wealth of American families, particularly families of color. Following
the 2008 recession, [ [link removed] ]50 percent of the wealth owned by Black Americans
was lost because it was tied to their homes. Since 1980, 25 percent of
wealth among working-class Americans has been depleted because that wealth
has been concentrated at the top, making it harder for many to buy a home
and exacerbating this wealth disparity.

If we hope to combat the growing inequality between the elites and
everyday Americans, we must start by giving people a chance to build
wealth through homeownership. And that means putting an end to Wall
Street’s real estate grab.

[ [link removed] ]Sign the petition: I support the Stop Wall Street Landlords Act of
2022.

In solidarity,
Ro


 


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PAID FOR BY RO FOR CONGRESS
PO Box 3513, Santa Clara, CA 95051