Wall Street has spent billions buying homes. Lawmakers want to stop that. WSJ link -

Investors of all sizes went on a home-buying spree during the pandemic. Proposed legislation in the U.S. Senate and House would force large owners of single-family homes to sell houses to family buyers. A bill in the Ohio state legislature aims to drive out institutional owners through heavy taxation, with similar laws proposed in Nebraska, California, New York, Minnesota and North Carolina. Lawmakers say that investors who have scooped up hundreds of thousands of houses to rent out are contributing to the dearth of homes for sale and driving up prices. Companies that buy single-family homes say their businesses provide renters the opportunity to live in desirable neighborhoods where they otherwise couldn’t afford to buy. Also giving investors headaches right now? The presidential election and a possible AI bubble.

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