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Merkley Bill Aims to Dismantle Hedge Fund Stranglehold on Housing Market

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'The housing in our neighborhoods should be homes for people, not profit centers for Wall Street,' said SenJeffMerkley.

rent and mortgage rates, U.S. Sen. Jeff Merkley on Wednesday unveiled legislation intended to stop major Wall Street investors and hedge fund predators from continuing to exacerbate the nation's housing crisis."Everyone should have a safe, affordable place to call home," the Oregon Democratin a statement."In every corner of the country, giant financial corporations are buying up housing and driving up both rents and home prices.

"While some of our housing challenges, including a supply shortage, will take years to remedy," the document states,"others can be addressed immediately, including a strong ban on hedge funds owning and controlling large parts of the American housing market." To ensure this tax penalty focuses on problematic actors, this legislation excludes nonprofit organizations, public housing agencies, and other government entities as well as home builders.

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SenJeffMerkley What business do homes have been part of any 'hedge'? That it's Senator Merkley leading the way isn't surprising. He's an Oregonian.

SenJeffMerkley Great plan. Let’s see some action before GOPPartyOfDeath takes over the House. GetHedgeFundsOutOfHousing AbortHedgeFundHousing SenSchumer SenateDems SpeakerPelosi HouseDemocrats

SenJeffMerkley Odds of this passing? 0%

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