Horsford and Rosen Offer President Trump Solution to Hold Corporate Housing Investors Accountable

WASHINGTON, D.C. – Congressman Steven Horsford (NV-04) and Senator Jacky Rosen (D-NV) sent a letter to the Trump Administration requesting support for their legislation to prevent large institutional investors from manipulating housing prices and hold bad actor corporate property owners accountable for abusive practices.

“Our ‘Housing Oversight and Mitigation Exploitation (HOME) Act’ (H.R.3214/S.2668) provides clear, administrable tools to crack down on corporate price gouging in the housing market, which can drive up already-high home prices and take affordable homes off the market.” wrote the members.

“[T]oo often these homes acquired by bad actor corporate investors never resurface on the housing market, resulting in lost housing stock at a time when our nation is experiencing a dire housing shortage.”the members continued. “Since you’ve opened the door to confronting housing speculation and lowering the cost of housing, the “HOME Act” offers a ready-to-move solution.”

Horsford’s Housing Oversight and Mitigation Exploitation (HOME) Act would require needed oversight over the housing market to prevent institutional investors from manipulating it and hold corporate property owners accountable for price manipulation. 

The bill followed a protracted listening campaign, including a housing-focused virtual town hall; a housing tour with the Neighborhood Housing Services of Southern Nevada; meetings with affordable housing leaders ahead of a state-level lobbying day; an Affordable Housing Roundtable and Affordable Housing Development Tour with the Nevada Housing Coalition; and an in-home meeting to hear the challenges a 25-year-old single mother of a five-year-old daughter faces keeping a roof overhead. 

To read full letter read here. 

To read more about the HOME Act read here.

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