A photo of Rep. Summer Lee speaking at a podium. Below, gold and white font reads "Introducing the Stop Wall Street Landlords Act to make homeownership accessible and affordable by preventing institutional landlords from buying up available homes"
Gold and white font on a black background reads "Fueled by the 2008 housing crash and subsequent foreclosure crisis, Wall Street cornered Single Family Residentials (SFR) by operating SFRs as rentals, issuing debt securities backed by rental income and selling shares of income producing real estate in the American stock market. The financialization of the housing market by Wall Street exacerbates corporate profiteering and anti-competitive practices that make it harder for Americans to afford housing or access homeownership." Below is a photo of a stack of money and a home.
Gold and white text on a black background reads "Our wall street landlords act will change that. The legislation would end large institutional investors’ ability to use taxpayer dollars to subsidize the acquisition of single-family residential homes. It would also direct federal housing agencies to stop institutional investors from purchasing mortgages on single-family residential homes and impose a transfer tax on SFRs owned by large investors, using the revenue to fund affordable housing." Below is a photo of a Wall St. sign.
White text on a black background reads "Homes belong to the people who live in them, not wealthy investors driving up costs and pushing families out."
Too many families are living in homes owned by some distant investor who treats them like a paycheck instead of people. This is the result of a system that subsidizes corporate landlords while everyday people struggle to find a safe, stable place to call home. (1/2)
