A bill introduced in the House and Senate would prevent hedge funds from owning single-family houses in the United States.
  • vitamin@infosec.pub
    45·
    2 years ago

    The bill would require hedge funds, defined as corporations, partnerships or real estate investment trusts that manage funds pooled from investors, to sell off all the single-family homes they own over a 10-year period, and eventually prohibit such companies from owning any single-family homes at all.

    It does include corporations. For instance the Bezos thing we’ve been hearing about the past couple days would be covered:

    Arrived, a young real estate company backed by Amazon.com Inc. founder Jeff Bezos, has just announced its entry into the single-family rental fund space. Arrived currently operates a fractional real estate investing platform that has attracted nearly half a million retail investors since its launch in 2021. The platform allows these investors to purchase shares of single-family rental properties with as little as $100.

    https://finance.yahoo.com/news/jeff-bezos-backed-real-estate-151102586.html

    • vitamin@infosec.pub
      204·
      2 years ago

      Just so it’s clear, they want to turn our homes into a mini stock market.

      This bill won’t pass.

      We already live in a completely fucked up dystopia, most people just haven’t realized it.

    • aidan@lemmy.world
      101·
      2 years ago

      That sounds like the perfect opportunity to work in property management because the owners will be so diffuse that you could be very lazy and they would be none the wiser