LETTER: Wall Street investors buy, sell homes in Las Vegas
In response to your Sunday story, “Wall Street-backed company buys 264 valley homes in a day”:
The residents who care and live in Las Vegas should be disgusted by the ugly truth exposed by this very detailed article penned by reporters Patrick Blennerhassett and Jimmy Romo. Some of us are openly outraged. The idea that a “corporate” landlord can tie up 264 houses for rental properties in town when more than 8,000 people are homeless — including couples with children — turns my stomach upside down.
May those with a backbone like myself make a concerted effort to support U.S. Rep. Adam Smith of Washington and Sen. Jeff Merkley of Oregon in supporting the End Hedge Fund Control of American Homes Act of 2023, which would put a stop to this unbridled greed by preventing hedge fund investors from owning numerous homes and initiating a $20,000 tax penalty per home in excess of 100.
I hope other Las Vegans will see the need to prevent this type of specious transaction in the future if they care about home ownership in Las Vegas.