Senators Issue Trump-Backed 'Homes for American Families Act'
Sens. Josh Hawley (R-MO) and Jeff Merkley (D-OR) are introducing the Homes for American Families Act to ban Wall Street firms from buying up single-family homes across the United States. During his State of the Union address this week, President Donald Trump urged lawmakers to codify his executive order that does just that.
On Thursday, Hawley and Merkley announced the Homes for American Families Act, which would prohibit large institutional investors from buying single-family homes, townhouses, and condominiums.
“Wall Street has exploited the American housing crisis, turning the nation’s housing stock into a portfolio of rental properties,” Hawley said in a statement:
Families deserve to be able to buy their own homes and achieve the American dream without competing with big investment companies that irrevocably drive up housing prices. That’s why I am introducing legislation to ban Wall Street from buying single family homes once and for all. [Emphasis added]...