Blackrock and Vanguard Stocks are About to be Blocked From Buying and Inflating the Housing Market – The Battle to Save the American Dream
Medeea Greere, an independent publisher, is now on Telegram at https://t.me/AMGNEWS2022 and exists only on reader support as we publish Truth, Freedom and Love for public awareness. Thank You for your support!
In a bold move to rescue the American dream of homeownership from the clutches of mega-investors, U.S. Senator Jeff Merkley and Washington Rep. Adam Smith have unleashed a legislative juggernaut: the “End Hedge Fund Control of American Homes Act.” This tenacious proposal takes direct aim at financial giants like BlackRock and Vanguard, whose voracious appetite for single-family homes has threatened to devour the housing market, leaving ordinary Americans in the dust.
The battle lines are drawn in the housing market, where a relentless surge of hedge funds, private equity firms, and investment trusts has triggered alarm bells in Congress. The proposed legislation, backed by a coalition of lawmakers and advocacy groups, seeks to dismantle the stranglehold these financial behemoths have on the real estate landscape. Let’s delve into the gritty details of this ten-year plan that promises to reshape the future of homeownership in America.
The End Hedge Fund Control of American Homes Act Unleashed:
Dubbed the “End Hedge Fund Control of American Homes Act,” this legislative tour de force is the brainchild of Senator Jeff Merkley and Representative Adam Smith. Its primary goal is to force hedge funds, private equity firms, and investment trusts to loosen their grip on single-family homes, which have become the prized possessions of these financial giants. The proposed plan mandates an annual divestment of 10 percent of homes over the next decade, effectively dismantling their stranglehold on the market.
The legislation casts a wide net, defining hedge funds as partnerships, corporations, or real estate investment trusts amassing a staggering $50 million or more in net value or assets under management. However, nonprofits and construction-focused companies find themselves on the exempted side of the battlefield, shielded from the onslaught of regulatory measures. It’s a carefully calculated move to target the culprits without stifling essential contributors to the housing ecosystem.
The Arsenal: Penalties, Taxes, and the IRS:
This legislative powerhouse isn’t all bark and no bite. Senator Merkley and Representative Smith have armed the Internal Revenue Service (IRS) with the authority to impose taxes on funds failing to comply with the divestment requirements. Fines and taxes will rain down like justice upon those who dare defy the ten-year plan. The bill ensures that every dollar collected from these penalties contributes to a housing down payment trust fund, creating a war chest for future battles in the housing affordability war.
Coalition of Champions:
In the trenches alongside Merkley and Smith are U.S. Representatives Nikema Williams and Linda Sánchez, forming an unyielding front in the House. Senator Tina Smith, the sentinel in the Senate, adds her weight to the cause. The legislation has garnered support from advocacy heavyweights such as the Private Equity Stakeholder Project, Consumer Action, and the National Consumer Law Center. It’s a formidable coalition determined to restore balance to the housing market and protect the dreams of countless Americans.
The Stakes: BlackRock, Vanguard, and the Urban Institute’s Grim Report:
As the battle unfolds, it’s crucial to understand the stakes. Recent data from an Urban Institute report, brandished by Merkley and Smith like a weapon, reveals a disturbing trend. From 2011 to June 2022, hedge funds and institutional investors, with BlackRock and Vanguard leading the charge, have aggressively expanded their empire of single-family homes. This surge is particularly pronounced in Black and Latino neighborhoods, deepening the chasm of inequality.
The Pandemic’s Battlefield:
The pandemic served as a catalyst, intensifying the onslaught on American homes. In 2022 alone, a staggering 28 percent of homes were reportedly gobbled up by institutional investors. As the financial titans increased their stranglehold, concerns mounted about the repercussions: limited access to affordable housing, the birth of a generation of lifelong renters, and the erosion of the American dream.
A Call to Arms: Congress Must Act Now!
The End Hedge Fund Control of American Homes Act is more than a legislative proposal; it’s a call to arms. Merkley and Smith implore Congress to act swiftly, urging lawmakers to recognize the urgency of safeguarding safe and accessible homeownership for American families. The battleground is set, and the fate of the American dream hangs in the balance.
Blue Zones: Secrets From Some of the Healthiest People in the World
In this tale of legislative heroism, envision Senator Merkley as the fearless commander leading the charge, and Representative Smith as the strategic mastermind orchestrating the battlefield. Picture U.S. Representatives Williams and Sánchez as the fierce lieutenants flanking the front lines, and Senator Tina Smith as the unwavering sentinel standing guard in the Senate. Together, they form a cast of characters driven by a shared commitment to the American dream.
As the dust settles on this legislative battlefield, there’s a glimmer of hope on the horizon. The End Hedge Fund Control of American Homes Act represents a resolute effort to reclaim the essence of homeownership from the clutches of financial giants. The urgency is palpable, and as Congress contemplates its next move, the fate of the American dream teeters on the edge. Will the legislation emerge victorious, or will the financial titans continue their reign of dominance? Only time will tell, but one thing is certain – the battle for the American dream is far from over.
