Homes for Families, not Hedge Funds.

10/03/2024

07/29/2024

The bulk purchase of single-family homes by corporate owners—who then turn them into rentals—has come under increased scrutiny in recent years. Legislators have gradually been responding with bills to rein in and in some cases ban private equity, real estate investment trusts and hedge funds from purchasing single-family homes.

The most prominent of these bills was introduced in December 2023: the End Hedge Fund Control of American Homes Act, introduced in the Senate by Oregon Sen. Jeff Merkley with companion legislation introduced in the House by Rep. Adam Smith.

The bill, which has been referred to committee but has yet to receive a vote, would effectively ban hedge funds from owning any single-family homes within 10 years of its passage.

The Merkley/Smith bill as written would force large corporate owners to divest from their current holdings of single-family homes over 10 years. An applicable entity that manages investor funds, is a fiduciary of the funds, and purchases new homes would be taxed half the cost of each additional home. Entities that fail to divest homes they own in excess of the 50-home cap would be taxed $50,000 for each excess home. And hedge funds, specifically, would pay that fine if they own any homes at all (with 10 years to divest of them).

07/26/2024

Welcome to "Homes for Families, Not Hedge Funds"!

We’re thrilled to have you join us in our mission to protect single-family residences from becoming investment assets for hedge funds. Our goal is to ensure that homes remain affordable and accessible to families, not financial speculators.

Here, you’ll find information, updates, and resources on how we can collectively address this issue. We encourage you to engage, share your thoughts, and help us advocate for policies that prioritize families over financial interests.

Together, we can make a difference in preserving the integrity of our communities. Thank you for being a part of this crucial movement!

Warm regards,
The Homes for Families, Not Hedge Funds Team