Sen. Keyeski Introduces Bill to Prohibit Hedge Funds from Buying Single-Family Homes
Bill would protect homeownership opportunities, lower the cost of housing, and strengthen local economies
Madison – Today, Senator Sarah Keyeski (D-Lodi) introduced LRB-2448/1 to prohibit hedge funds and institutional investors from purchasing single-family residential properties within Wisconsin.
Senator Keyeski released the following statement in response:
“This bill is good for families, good for the middle class, and good for our local economies. Everyone should have the opportunity to purchase a home, put roots down, and grow in their communities. Any obstacle to this is bad for Wisconsin.
“Working people and young families don’t have unlimited financial resources. When hedge funds and large corporate investors outbid hopeful homeowners, this hurts Wisconsinites and drives up housing costs.
“Sadly, homeownership is currently an unattainable dream for many Wisconsinites, but it doesn’t have to be this way. We must take action to ensure people have a fair shot at purchasing a home. I believe this bill takes an important step towards that goal.
“I hope my colleagues on both sides of the aisle will join me in supporting this bill that will provide more opportunities for Wisconsin’s families, strengthen our communities, and benefit the entire state.”
NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.
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