Banned: Hedge funds Owning single-family homes

This is a very interesting topic about something on the real estate horizon.  For years, I have been hearing about “all the big companies buying up the single family homes of America,” always talked about as one would discuss a nefarious conspiracy.  Now it appears people are taking action.  From a Miami Herald Article titled (just click the “close” button on the article and you will be able to read the full article):

Hedge funds may soon be banned from owning single-family homes

“The bulk purchase of single-family homes by corporate owners—who then turn them into rentals—has come under increased scrutiny in recent years. Legislators have gradually been responding with bills to rein in and in some cases ban private equity, real estate investment trusts and hedge funds from purchasing single-family homes.

Merkley told Next City/Shelterforce that he first learned about the issue from constituents who were being outbid for starter homes for their families by deep-pocketed investors who were willing to buy the homes sight unseen.

‘I started to hear the vignettes of people competing with all-cash, no-inspection offers in Oregon,’ Merkley says. ‘And three years ago or so I started seeing the stats of the large number of homes that were being purchased.'”

The article goes into the pros and cons of this situation, as well as several legislative attempts to regulate the real estate market. What do you think?

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