The End Hedge Fund Control of American Homes Act

America has an affordable housing problem, and if we don't take action, it's going to get worse.

Following the 2008 housing crisis, which was fueled by predatory private mortgages and unregulated markets, Wall Street hedge funds started scooping up large portfolios of foreclosed homes. The federal government facilitated this corporate greed through bulk sales of federally backed mortgages and foreclosed properties, shutting out ordinary families from buying these homes and recovering housing stability. It was wrong.

All over the country, hedge funds are snatching up available housing, using their financial muscle to outbid ordinary Americans, driving up prices and rents, and turning neighborhoods into Wall Street profit centers at the expense of folks struggling to find a place to call home.

Here's what I'm doing to put an end to these practices: I introduced the End Hedge Fund Control of American Homes Act to kick hedge funds out of the housing market and increase access to affordable housing.

My legislation forces hedge funds and other large private investors to sell their inventory of single-family homes and requires that they sell them to families who don't currently own a home. And if they don't, they are required to pay a substantial tax penalty that funds a down payment assistance program.

Everyone should have a safe, affordable place to call home, and we're working to get it done.

Onward!

Jeff