Horsford Praises State Bill Addressing Nevada’s Housing Crisis

WASHINGTON, D.C. – Congressman Steven Horsford (NV-04) today expressed support for S.B. 10, a bill Democrats in the Nevada State Legislature are bringing for a vote during the ongoing special legislative session to address Nevada’s housing crisis by limiting corporate buyers to 100 units annually.

The bill comes as a new report from the University of Nevada Las Vegas’s Lied Center for Real Estate found that investors have purchased nearly a half-million homes in the Las Vegas Valley since 2009, and account for 23 percent of all home purchases in 2024 .

Horsford, who launched a housing policy platform in May, released the following statement:

“Nevadans continue to struggle through a housing crisis of Wall Street’s making – I support S.B. 10 and commend state lawmakers for working to provide relief,” Rep. Horsford said. “With nearly a quarter of all home sales last year going to investors, our neighborhoods are being hollowed out, and residents are being priced out. I launched a housing policy platform in May to confront this issue head-on, and I’m glad to see S.B. 10 building on that effort. There is a clear need for a policy solution to ensure the American Dream of home ownership is more than a pipe dream for residents of the Silver State.”

Rep. Horsford’s housing policy platform is comprised of three bills that resulted from 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. 

The 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 Utilizing National Land for Opportunities and Community Key (UNLOCK) Housing Act would increase access to affordable housing by fast-tracking the Bureau of Land Management’s process for opening federal lands up to property development. 

The Housing Market Transparency Act would require properties receiving Low-Income Housing Tax Credits (LIHTC) to provide annual data on development costs, habitability standards, and ownership information, which will ensure tenants know when rent increases or if there are changes in property ownership.

More information about Rep. Horsford’s housing policy platform is available here.

More information about the HOME Act is available here.

More information about the UNLOCK Housing Act is available here.

More information about the Housing Market Transparency Act is available here.