Senate Passes Landmark Housing Bill with Merkley-Inspired Provision to Crack Down on Hedge Fund Control of American Homes

Washington, D.C. - Oregon's U.S. Senator Jeff Merkley-a long-time champion of kicking hedge funds out of the housing market-released the following statement after the Senate passed an updated version of Sen. Elizabeth Warren's 21st Century ROAD to Housing Act, the biggest housing bill in 30 years, that includes the first-ever limits on institutional investors purchasing single-family homes:

"For too long, the dream of owning a home has been made harder when working families are forced to compete against all-cash, no-inspection offers to buy a decent home in their community.

"When I first wrote legislation in 2022 to crack down on hedge funds gobbling up homes in communities across the United States, Congress had never taken on private equity's grip on America's housing market. Today, dozens of Senators have joined our cause to rein in private equity because houses in our communities should be homes for families, not profit centers for Wall Street.

"This bill is an important step forward to restore the dream of homeownership-one of the foundations that working families need to thrive. I thank Ranking Member Warren for crafting this bill and her partnership in tackling America's housing crisis. I'll keep working to ensure working families nationwide can afford a decent home in a decent community."

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