Nebraska lawmaker seeks to ban corporations from buying up single-family homes

By MARGERY A. BECK
Associated Press

A Nebraska lawmaker is pushing a bill to forbid out-of-state hedge funds and other corporate entities from buying up single-family properties. Sen. Justin Wayne’s bill echoes legislative efforts in other states and in Congress to curtail corporate amassing of single-family homes. Critics say the practice has helped send the price of homes, rent and real estate taxes soaring in recent years. Wayne says that has been the case in his north Omaha district, where an Ohio corporation has bought more than 150 single-family homes in recent years. He says the company has used all-cash offers at over-asking prices to buy homes.