POSITIVE Housing & Affordability 118th Congress

H.R.6608 End Hedge Fund Control of American Homes Act

Taxes hedge funds that buy up single-family homes and creates a downpayment trust fund for first-time homebuyers (118th Congress)

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Legal & Constitutional Grounding

32 institutional investors own 450K homes (GAO); they raise rents 60% faster and file evictions at 3x the average rate.

CoreLogic — investors account for 26-28% of single-family home purchases since the pandemic (up from 17% pre-pandemic), with 29% of purchases in the lowest-priced tier (starter homes)

GAO-24-106643 (May 2024) — 32 institutional investors owned 450,000 single-family homes by 2022; concentration: 25% of Atlanta's SFR market, 21% Jacksonville, 18% Charlotte
Philadelphia Fed WP 24-13 (2024) — institutional investors raise rents 60% more than average when acquiring properties; investor activity explains 36% of rent growth changes
Raymond et al. (Georgia Tech/Atlanta Fed) — large corporate SFR owners file evictions on 1/3 of properties per year; institutional eviction filing rate 20% vs. 7% average
Freddie Mac (2024) — U.S. housing shortage of 3.7 million units; NAR (2025): first-time buyers at 21% of market, lowest since 1981

Taxes hedge funds that buy single-family homes and creates a downpayment trust fund. Institutional investors purchasing single-family homes at scale reduces homeownership access and drives up prices in communities nationwide.