Friend,
The American Dream of owning a home is growing further and further out of reach for many hardworking families. Meanwhile, rents continue to skyrocket as affordable housing becomes harder to find.
Wall Street owns a big share of the blame. Hedge funds and private equity firms have pushed Americans out of homeownership by buying up single-family homes left and right, turning them into overpriced rental properties.
If we have any chance of reining in the cost of housing, we have to start with Wall Street. That’s why Senator Jeff Merkeley and I have introduced legislation that would ban hedge funds and private equity firms from obtaining loans to make large-scale housing purchases.
Sign the petition: Ban hedge fund investors from owning single-family homes.
This mass buyout of housing stock has decimated wealth for families of color and working-class families. 50 percent of the wealth owned by Black Americans was lost after the 2008 recession 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.
Every American has the right to pursue the dream of buying a home and building wealth. And that means putting an end to Wall Street’s real estate grab.
Sign if you agree: Housing is for homes, not hedge funds.
In solidarity,
Ro
|
|
|
Email us: [email protected]
This email was sent to [email protected]. Email is the most important way we keep in touch with people like you, so thank you for reading to the end. Small donors like you keep us going. To contribute via check, please address to Ro for Congress, PO Box 3513, Santa Clara, CA 95051.
Paid for by Ro for Congress