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Cake day: December 4th, 2023

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  • The bill would require hedge funds, defined as corporations, partnerships or real estate investment trusts that manage funds pooled from investors, to sell off all the single-family homes they own over a 10-year period, and eventually prohibit such companies from owning any single-family homes at all.

    It does include corporations. For instance the Bezos thing we’ve been hearing about the past couple days would be covered:

    Arrived, a young real estate company backed by Amazon.com Inc. founder Jeff Bezos, has just announced its entry into the single-family rental fund space. Arrived currently operates a fractional real estate investing platform that has attracted nearly half a million retail investors since its launch in 2021. The platform allows these investors to purchase shares of single-family rental properties with as little as $100.

    https://finance.yahoo.com/news/jeff-bezos-backed-real-estate-151102586.html