Ending America’s Housing Hoarding Crisis
America doesn’t have a housing shortage — it has a housing hoarding crisis. Homes are being bought up, not to live in, but to squeeze out passive income from renters who have nowhere else to go. It’s not just Wall Street doing this — it’s tens of thousands of small-time investors, each sitting on five, ten, even twenty homes. They’re all using the same rent-setting apps and landlord forums. Individually, they’re (relatively) harmless. Together, they’re crushing working families.
The HOMES Act ends the hoarding. Every person has a maximum of three residential properties — total. Corporate ownership of single-family homes is banned outright. A fair transition with an 8-year phaseout ensures stability while returning homes to the market. This bill makes clear that housing is a human right, not a passive income stream.
How It Works
- Limits residential property ownership to three homes per household.
- Bans corporations and entities from owning single-family homes.
- Imposes steep, escalating excess property taxes on additional holdings.
Full Text
Housing Overlords Must End Stockpiling Act (HOMES Act)
Section 1: Short Title
This Act may be cited as the “Housing Overlords Must End Stockpiling Act” or the “HOMES Act.”
Section 2: Findings
Congress finds the following:
- The U.S. faces a housing hoarding crisis, not a housing shortage.
- Individuals and investment entities acquiring large numbers of homes have driven up costs and squeezed working families.
- Housing must be treated as a necessity — not a passive-income asset class.
- A hard limit on household ownership and a tax on hoarding will rebalance the market and make homes more accessible to first-time buyers and long-term renters.
Section 3: Limitation on Residential Property Ownership
(a) No household may own more than three (3) residential properties within the United States without incurring an excess ownership tax as defined in Section 5.
(b) Households may use these properties for any residential purpose — including primary residence, rental income, vacation/seasonal use, or ceremonial cat sanctuaries.
(c) “Residential property” includes single-family homes, townhomes, duplexes, and condos. A multi-unit structure with three (3) or fewer units counts as one (1) property. Ownership includes all direct and beneficial interests held by any member of a household, including through trusts, LLCs, corporations, shell companies, or nominee arrangements.
(d) For the purpose of this Act, a “household” includes spouses or domestic partners residing together; dependents or family members sharing legal or financial residency; any group of individuals jointly filing tax returns, co-signing mortgages, or residing at the same principal address for over 6 months in the past year.
Section 4: Ban on Entity Ownership of Single-Family Homes
(a) No corporation, partnership, LLC, real estate investment trust (REIT), trust, or legal entity may purchase or own a single-family residential property.
(b) Entities currently owning such properties shall be granted a 4-year transition window to reduce holdings to zero. During this window, escalating taxes under Section 5 shall apply.
(c) HUD shall issue rules for verifying beneficial ownership, auditing entity structures, and preventing circumvention.
Section 5: Excess Property Tax
(a) An annual tax shall apply to all residential properties in excess of the 3-property household limit:
- Year 1: 5% of assessed value per excess property
- Year 2: 10%
- Year 3: 15%
- Year 4: 20%
- Year 5 and beyond: Tax increases by an additional 10 percentage points per year, indefinitely (e.g., Year 5 = 30%, Year 6 = 40%).
(b) Tax applies regardless of whether ownership is direct or through disallowed entities. Applies to U.S. and foreign owners. No exemptions based on property use, income, or investment status.
(c) All revenue collected shall fund: construction and maintenance of public and affordable housing; housing voucher programs; enforcement and auditing of housing ownership records.
Section 6: Penalties and Enforcement
(a) Attempts to evade limits via proxies, shell entities, false residency claims, or other schemes shall result in fines up to $250,000 per violation, retroactive taxation, and criminal penalties for repeat offenses.
(b) An Office of Housing Ownership Transparency will be established within HUD to monitor ownership patterns, investigate suspected circumvention, and publish an annual audit report to Congress and the public.
Section 7: Effective Date
This Act takes effect 12 months after enactment. Taxation provisions under Section 5 begin on January 1 of the first full calendar year following the effective date.
Section 8: Severability
If any section or provision of this Act is held invalid, the rest shall remain in effect.
Disclaimer
I’m not a lawyer, and this isn’t finalized legislative language — but I’m also not waiting around for someone else to write what’s clearly overdue. We need more single issue, readable bills.
These are serious drafts from someone running for Congress who believes voters deserve more than slogans and vague promises. And yes, once elected, I’ll work with the Office of Legislative Counsel, the Congressional Research Service, and policy experts to refine every section into fully enforceable law. That’s what they’re there for.
But make no mistake — the intent, urgency, and direction are already here.