Kamala Harris wants to stop Wall Street's homebuying spree [View all]

Tremendous


Institutional investors could own 40% of single-family rental homes by 2030, according to one estimate
By
Rocio Fabbro
Published5 hours ago
Updated40 minutes ago

Vice President Kamala Harris unveiled plans to tackle the rise in Wall Street homeownership as part of a slate of economic proposals announced Friday.

The Democratic presidential nominee is targeting investors that buy up and mark up homes in bulk, a growing trend that’s making the housing and rental market more expensive for Americans, the Harris campaign said.

Within her first 100 days in office, Harris said she would call on Congress to pass the “Stop Predatory Investing Act,” a bill introduced in July 2023 by Ohio Sen. Sherrod Brown that removes tax benefits for large investors that acquire swaths of single-family rental homes.

“Some corporate landlords buy dozens, if not hundreds of houses and apartments, then they turn around and rent them out at extremely high prices,” Harris said at a campaign rally in Raleigh, North Carolina Friday. “And it can make it impossible then for regular people to be able to buy or even rent a home.”
https://qz.com/harris-campaign-housing-rental-costs-real-estate-1851624062?utm_source=dlvr.it&utm_medium=twitter