Limit the corporate ownership and commercial use of single-family residential properties.

Limit the corporate ownership and commercial use of single-family residential properties.

Started
May 6, 2022
Signatures: 43Next Goal: 50
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Why this petition matters

Started by Joshua Patterson

 

The Americans for fairness in homeownership act. 

The objective of the AFFHO act is to limit the corporate and commercial ownership of single-family residential properties as well as limit the number of single-family residential properties that can be used for commercial hospitality services. 

There can be no denying that the rising price of homes in the united states is the direct result of commercial ownership and use of single-family homes. At a time when demand for homes is at an all-time high and inventory is at an all-time low it is critical that we change how single-family property ownership in the united states is used and obtained. 

The ever-rising cost of purchasing and prices of homeownership in America has reached an unprecedented place of inaccessibility and inequality for most Americans. The simple fact is, that today, MOST Americans can no longer afford to buy their first home. 
While at the same time, as single-family homes do enter the market they are being bought up by investment firms and mega-corporations looking to make a quick buck by reselling them, at inflated prices, that they themselves have helped drive up by limiting inventory available to the average American. 

Some states have started to take the first steps in limiting the power of investment firms and corporations to purchase single-family homes, CA SB 1079 for example.
While these steps have been targeted at limits on foreclosed properties what is needed right now is a realistic limit on the purchase of single-family properties by any commercial entity other than single families or individuals for personal use. 

The Americans for fairness in homeownership act will limit the advantage and control commercial investors and corporations have in purchasing single-family housing. 

The Americans for fairness in homeownership act will strongly limit foreign ownership of property in the United States as well as strongly limit ownership by non-US citizens to a SINGLE property. 

The Americans for fairness in homeownership act will not entirely prohibit ownership of rental properties by commercial entities but instead will encourage those investments to be made in multi-family properties such as condominiums and apartment buildings. 

It is time to take back America from the corporations and bring an equal opportunity to all when it comes to homeownership. 

 

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Signatures: 43Next Goal: 50
Support now