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Wall Street BANNED? Democrats Look To BLOCK Investors From Housing Market
Two bills proposed by Democrats in Congress this week aim to curb home ownership by big investors in an attempt to improve buying conditions for Americans, the New York Times reported.
In the Senate, the End Hedge Fund Control of American Homes Act of 2023 would force big investors to sell off all the single-family homes they own over a period of 10 years, and eventually ban hedge funds from owning any single-family homes entirely.
"The housing in our neighborhoods should be homes for people, not profit centers for Wall Street," co-author of the bill, Senator Jeff Merkley, D-Ore., said in a press release. "Yet, in every corner of the country, giant financial corporations are buying up housing and driving up both rents and home prices. It's time for Congress to put in place commonsense guardrails that ensure all families have a fair chance to buy or rent a decent home in their community at a price they can afford."
***
I'm joined by my guest Natalie Bencivenga to discuss why this is welcomed news, but also to discuss why this isn't enough. We also touch on how this issue connects to the 2024 election
Related article: https://www.businessinsider.com/housing-market-affordability-investors-hedge-funds-wall-street-democrats-bill-2023-12
Follow Natalie Bencivenga:
TIK TOK: https://www.tiktok.com/@nataliebencivenga
INSTAGRAM: https://www.instagram.com/nataliebencivenga/
Follow - Independent Thought:
INSTAGRAM: https://www.instagram.com/independentthought/?hl=en
PATREON: https://www.patreon.com/Independentthought
YOUTUBE: https://www.youtube.com/channel/UC7ccPtminOAZ-z0Anpq2M_w
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By Desmond Price
4.9
229229 ratings
Two bills proposed by Democrats in Congress this week aim to curb home ownership by big investors in an attempt to improve buying conditions for Americans, the New York Times reported.
In the Senate, the End Hedge Fund Control of American Homes Act of 2023 would force big investors to sell off all the single-family homes they own over a period of 10 years, and eventually ban hedge funds from owning any single-family homes entirely.
"The housing in our neighborhoods should be homes for people, not profit centers for Wall Street," co-author of the bill, Senator Jeff Merkley, D-Ore., said in a press release. "Yet, in every corner of the country, giant financial corporations are buying up housing and driving up both rents and home prices. It's time for Congress to put in place commonsense guardrails that ensure all families have a fair chance to buy or rent a decent home in their community at a price they can afford."
***
I'm joined by my guest Natalie Bencivenga to discuss why this is welcomed news, but also to discuss why this isn't enough. We also touch on how this issue connects to the 2024 election
Related article: https://www.businessinsider.com/housing-market-affordability-investors-hedge-funds-wall-street-democrats-bill-2023-12
Follow Natalie Bencivenga:
TIK TOK: https://www.tiktok.com/@nataliebencivenga
INSTAGRAM: https://www.instagram.com/nataliebencivenga/
Follow - Independent Thought:
INSTAGRAM: https://www.instagram.com/independentthought/?hl=en
PATREON: https://www.patreon.com/Independentthought
YOUTUBE: https://www.youtube.com/channel/UC7ccPtminOAZ-z0Anpq2M_w
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