A lawmaker in Nebraska has worked hard to get a bill passed that would stop corporations and hedge funds from buying up single-family houses.
After having to deal with a housing shortage, a politician in Nebraska pushed for this. If the bill passes, Nebraska will be the first state to stop this from happening. This is also a big problem in some other states. For example, in Ohio, corporations have bought out over 150 single-family houses, often by offering cash and then renting the home out to other people after the family moves out.
A company, business, or hedge fund can’t buy a single-family home unless it is based in Nebraska or its main members live in Nebraska, according to the Bill.
“The goal is to protect Nebraska’s small stock of existing homes for Nebraskans.” She said, “If we did this, we would be the first state in the country to take this issue seriously and deal with it.” Senator Justin Wayne introduced the bill.
The End Hedge Fund Control of American Homes Act is another bill that would make hedge funds sell any single-family homes they own. If they don’t sell them soon, they will have to pay a lot of taxes. This will help people make down payments on these homes when they again become available.
Similar bills have been introduced by Democrats in North Carolina, Indiana, and Minnesota lately, but they have not been passed in those states.
There has been a problem with corporations buying single-family houses since the pandemic. This is not a new idea. It had been a problem during the 2008 slump. This has basically grown worse because single-family houses have been a better investment for businesses than even the bond market.
