As the White House circulates a plan to shut institutional investors out of single-family housing, Sen. Elizabeth Warren, D-Mass., and other Democrats are drafting their own related legislation — including measures that would go further by targeting tax breaks, a person familiar with the plan told Semafor.
But some within the party are skeptical that any iteration of the policy would do more than deliver President Donald Trump a win: “Who thinks the most dangerous, corrupt president in history deserves a hand in making problems worse?” one Democratic strategist told Semafor.
Even the White House’s narrower proposal will be a tough sell for congressional Republicans, many of whom prefer bipartisan legislation that could get a Senate vote as soon as this week.
Investors who own more than 100 single-family homes control less than 1% of the market nationally, the American Enterprise Institute’s Edward Pinto said. He added that experts “could find no impact on prices” in regions where said investors controlled a larger share: “There’s no rhyme or reason.”