Protect Homebuyers from Predatory Investors.

The United States of America is headed directly into an unsustainable housing crisis.

Since the end of the 2008 financial crisis, the median sale price of a home has skyrocketed from $220,900 to nearly $350,000 (58%) as of 2020 with no end in sight. In that same time frame, the median American income has only increased from $52,029 ($65,052 when adjusted for inflation) to $78,500, an increase of only 21%. Meanwhile, our federal government chooses to subsidize the interest on mortgages amounting to $60 billion annually, primarily benefiting the affluent and the wealthy.  

The issue has only become more dire in the past year.

Due to the COVID-19 global health crisis, a moratorium on evictions and foreclosures was put in place to prevent the massive unhousing of millions of Americans. This moratorium is due to expire on June 30th of this year. As is already beginning to happen, the lifting of this moratorium will signal the beginning of a home buying war between American workers and predatory investment funds. These funds have the cash resources to outbid any and all American workers, essentially forcing these would-be homebuyers out of the market and into rental properties. Evidence of this can be found on virtually any real estate website. Homes which sold for $200,000 only a few years ago have seen their market values skyrocket by 20-, 30-, sometimes 40%, and even more so on the coasts and in large metropolitan areas. American wage-earners cannot compete with these multi-billion dollar investment firms, and the firms know it, and exploit it.

Housing is a human right.  Without adequate shelter we cannot survive, let alone thrive and fulfill our natural rights to life, liberty and the pursuit of happiness.  

There is a better way.

We call for, at the very least, the federal government to convene a national commission to solve and address the housing crisis before it is too late.

American homeowners are being forced out of their homes and the “free” market due to the predatory nature of investment funds. Without the ability to purchase a home for their family and begin to build household wealth through equity, the American working class will be forced to become a class of renters; isolated from the primary vehicle of intergenerational wealth: homeownership. 

We demand that the federal government draft and enact protections immediately to safeguard the working class and preserve our capacity to pursue our own American dreams.