Institutional investors may control 40% of U.S. single-family rental homes by 2030, according to MetLife Investment Management. And a group of Washington, D.C., lawmakers believe that Wall Street needs to back away from the market.
“What we’re saying is don’t have private equity buying up single -family homes,” said Rep. Ro Khanna, a Democrat representing California’s 17th Congressional District. Khanna is the lead author of the Stop Wall Street Landlords Act of 2022. “What’s outrageous is your tax dollars are helping Wall Street buy up single-family homes,” he said in an interview with CNBC.
The single-family rental industry got its start with government backing in the fallout after the…