Stop Wall Street from buying up America’s housing!

Democrats just introduced a new bill to ban hedge funds, private equity, and other wealthy corporations from further buying up housing and driving prices even higher.

Tell Congress: America has a housing crisis. Pass the End Hedge Fund Control of American Homes Act of 2023. SIGN THE PETITION! In every corner of the country, giant financial corporations are buying up housing and driving up the cost of both rent and buying a home. Housing prices have shot up 38% since 2019, making homeownership–once a cornerstone of economic security in the United States–increasingly out of reach for most Americans. Democrats just introduced a new bill to ban hedge funds, private equity, and other wealthy corporations from further buying up housing and driving prices even higher. The "End Hedge Fund Control of American Homes Act" would ban these companies from buying up single family houses, allowing more everyday people to finally purchase their own home. Wall Street's influence on the housing market has been disastrous. A New York Times investigation found that corporations have focused on buying up modestly priced houses, largely in neighborhoods with large Black and Latino populations, and converting the properties into rentals with skyrocketing monthly prices. Senator Jeff Merkley, the Senate bill's lead sponsor, noted that, "You have created a situation where ordinary Americans aren't bidding against other families, they're bidding against the billionaires of America for these houses." The End Hedge Fund Control of American Homes Act would tackle the problem by forcing 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. It's time to give every American family a fair chance to become a homeowner and put an end to hedge funds taking over the housing market. ADD YOUR NAME Paid for by DEMAND PROGRESS   Sent via ActionNetwork.org. To update your email address, change your name or address, or to stop receiving emails from Progress America, please click here.