John,

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.

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, 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.

Sign the petition: I support the Stop Wall Street Landlords Act of 2022.

In solidarity,
Ro