This bill prevents big investment companies from buying single family homes to help regular homebuyers compete in the housing market. It aims to keep homes affordable for families looking to buy their own houses.
If you are trying to buy a home, this bill could make it easier by limiting big investors in the market.
Who this affects
Families buying homes
What changes is this bill making?
1This bill stops large investment funds from buying single family homes.
2Covered funds cannot purchase single family homes starting 90 days after the bill is enacted.
3Funds that already own single family homes must sell at least 10% of them each year for 10 years.
4A covered fund is defined as having over $500 million in assets or owning many homes.
5Single family homes are defined as residential structures for one family.
