una factura<\/a> in the U.S. Senate to discourage taxpayers from
\nowning more than 100 single-family homes by imposing a $20,000 federal tax on
\neach residence over the cap. Merkley took aim at “hedge funds and private
\nequity firms” with the proposed legislation.<\/p>\n“They’re pouring fuel on the fire of the affordable
\ncrisis de vivienda que enfrentan tantas de nuestras comunidades, dejando a los trabajadores
\nfamilies behind,” the Democratic senator said in a statement. “The
\nLas viviendas en nuestros vecindarios deben ser hogares para personas, no centros de ganancias para
\nWall Street.”<\/p>\n
The bill would exempt some taxpayers, such as nonprofits and
\nthose who own federally subsidized housing. Importantly, it defines a
\nsingle-family home as “a residential property consisting of 1-to-4
\ndwelling units,” so that could include properties traditionally thought of
\nas duplexes, triplexes and quadplexes.<\/p>\n
Revenues from the taxes would go toward down-payment
\nassistance programs via a housing trust fund that would be created. State
\nhousing finance agencies that get the money would have to prioritize families
\nlooking to buy homes sold by the entities or individuals selling them for the
\npurposes of the bill.<\/p>\n
Under the proposal, failure to report the required
\ninformation without “reasonable cause” would be met with a $20,000
\npenalty.<\/p>\n
“To allow for an orderly exit from the housing
\ninvestment market, this legislation allows hedge funds and other investors to
\nsell the homes they own over several years,” Merkley’s office said.
\n“Hedge funds and investors must sell at least 10% of the total number of
\nsingle family homes to families (not companies or any other businesses) per
\nyear. And they are banned from selling any single-family home to other
\ncorporations.”<\/p>","protected":false},"excerpt":{"rendered":"
Oregon Sen. Jeff Merkley is looking to stop investors from collecting massive portfolios of single-family homes, citing the national housing affordability crisis. Merkley, who used to head up Portland’s Habitat for Humanity, introduced a bill in the U.S. Senate to discourage taxpayers from owning more than 100 single-family homes by imposing a $20,000 federal tax on each […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[26],"tags":[],"class_list":["post-1871","post","type-post","status-publish","format-standard","hentry","category-in-the-news"],"acf":[],"yoast_head":"\n
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