WASHINGTON DC – Last week, U.S. Senator Jacky Rosen (D-NV) introduced the Housing Oversight and Mitigating Exploitation (HOME) Act to help lower housing costs for Nevadans by cracking down on price gouging by corporate investors who are buying up housing stock and driving up home prices. It was recently reported that an estimated 15 percent of the single-family homes in Las Vegas are owned by corporate investors, which increases housing costs for hardworking Nevadans.
This bill would direct the U.S. Department of Housing and Urban Development to investigate price manipulation and price gouging by corporate investors and make it illegal for anyone to rent or sell a unit at an unreasonable price during an affordable housing crisis like the one currently facing Nevadans. Any fines collected from cracking down on corporate investors would be deposited into the National Housing Trust Fund to be used for increasing affordable housing nationwide.
Las Vegas Review-Journal: Rosen introduces bill to curb price gouging in housing market
By Jessica Hill
Key Points:
- Sen. Jacky Rosen introduced a bill Tuesday in an effort to crack down on price gouging by corporate investors who are buying up housing stock and driving up home prices — a problem prevalent in Nevada.
- The Housing Oversight and Mitigating Exploitation Act would direct the U.S. Department of Housing and Urban Development to investigate price manipulation and price gouging by corporate investors, and it would make it illegal for anyone to rent or sell a unit at an unreasonable price during an affordable housing crisis, according to the Nevada Democrat’s office.
- The Las Vegas Review-Journal previously reported how a Wall Street-backed company bought more than 250 homes in a day in Clark County, and an estimated 15 percent of single-family homes in Las Vegas are owned by corporate investors.
KOH Reno: Rosen introduces legislation to crack down on corporate price gouging in housing market
Anchor: “One Nevada Senator isn’t letting the housing market shenanigans slide. Fed up with investors driving home prices sky-high, Jacky Rosen’s got a plan. She’s rolling out the Housing Oversight and Mitigating Exploitation Act, and that’s a mission to bust prices and manipulators and gougers. This, making it illegal to charge an arm and a leg for rent or for sale. The Nevada Housing Coalition [is] also backing this.”
KOLO Reno: Rosen introduces legislation to crack down on corporate price gouging in housing
Anchor: “With housing prices on the rise, one Nevada senator is hoping to crack down on price gouging. Senator Jacky Rosen is introducing a bill to help regulate home prices. The Housing Oversight and Mitigating Exploitation, or HOME, Act would regulate real estate investors. The bill would make it illegal for anyone to rent or sell a unit at an unreasonable price. Fines would also be issued to those who violate the law, and those fines will go towards the National Housing Trust Fund to be used for affordable housing.”
Telemundo Las Vegas: Rosen presenta la Ley de Supervisión de la Vivienda y Mitigación de la Explotación
Reportera: “Hoy la senadora estatal Jacky Rosen presentó la Ley de Supervisión de la Vivienda y Mitigación de la Explotación para ayudar, dice, a reducir los costos de vivienda para los nevadenses.”
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