Stop Wall Street Landlords Act: Changes for Large Real Estate Investors
This act aims to curb the activities of large investors in the single-family home market. It introduces new tax rules and restricts access to federal mortgage assistance for companies owning multiple properties. The goal is to make homes more accessible to ordinary citizens and support affordable housing.
Key points
Large investment firms (assets over $100 million) will not be able to deduct mortgage interest and depreciation expenses for single-family homes.
An excise tax will be imposed on the sale of single-family homes by large investors, equal to the sale price of the property.
Funds from the excise tax will be allocated to support housing for low-income families.
Fannie Mae, Freddie Mac, and Ginnie Mae will be prohibited from providing new mortgage assistance or guarantees to large investors purchasing single-family homes.
Status:
Expired
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