“Our bill will help prevent corporate landlords from driving up local housing prices, and put power back in the hands of working families, who need a safe, affordable place to live and raise their children, said a statement from Brown.
An apartment for rent on West 45th Street in Cleveland is seen in a Feb. 9, 2017 photo edited to remove the contact phone number.WASHINGTON, D. C. – U.S. Sen. Sherrod Brown, a Cleveland Democrat who chairs the Senate Committee on Banking, Housing and Urban Affairs, wants to restrict tax breaks for big companies that buy up houses, often driving up local housing prices and rents.
“In too many communities in Ohio, big investors funded by Wall Street buy up homes that could have gone to first-time homebuyers, then jack up rent, neglect repairs, and threaten families with eviction,” said a statement from Brown. “Our bill will help prevent corporate landlords from driving up local housing prices, and put power back in the hands of working families, who need a safe, affordable place to live and raise their children.
“The woman was unable to secure other housing for herself, her sister with dementia, and her granddaughter, and they were evicted from the home, with many of their possessions and medications left inside,” Martin said. “It is not uncommon for these ‘new’ institutional landlords to introduce themselves to their tenants through their property management companies with notices of large rent increases, making remaining in the home unfeasible.
The majority of South Euclid’s 1,600 or so rental units are owned by out of state and many international investors, said Martin, who described investor’s demands for more houses as “insatiable.” A statement from Kristen Baker, executive director of LISC Greater Cincinnati, said approximately one in six Ohio homes are owned by institutional investors, including 4,000 homes in Cincinnati. She said large institutional investors aggressively evict tenants and decrease maintenance and their purchase of housing denies homeownership opportunities to local families.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Texas Sen. Roland Gutierrez announces campaign for U.S. Sen. Ted Cruz's seatICYM: A second Democrat is running for the Senate seat held by Republican Ted Cruz. U.S. Representative Colin Allred was the first Democrat to announce in May and Monday, State Senator Roland Gutierrez officially announced his campaign.
Read more »
Sam Brown enters Senate race in Nevada, where Republicans hope for a pickupSam Brown, a retired U.S. Army captain severely injured by an explosion in Afghanistan, announced a GOP bid Monday for the seat held by Sen. Jacky Rosen (D-Nev.), among those that Republicans are eying as they seek to regain control of the Senate.
Read more »
State Sen. Roland Gutierrez discusses why he’s running for US Senate seatState Sen. Roland Gutierrez sat down with KSAT anchor Steve Spriester to discuss why he is running for United States senator, pointing to failures during and after the shooting at Robb Elementary as part of the reason why.
Read more »
Army Capt. Sam Brown Enters Race for Nevada Senate SeatRetired Army Capt. Sam Brown, a Republican, on Monday officially launched his campaign for a U.S. Senate seat in Nevada — one that Republicans are eyeing to flip in 2024 and regain control of the Senate.
Read more »
Tim Sheehy receives another major endorsement in Montana Senate bid to unseat Democrat TesterSen. Marco Rubio is endorsing Montana Republican Senate candidate Tim Sheehy, who is running to unseat Democrat Sen. Jon Tester in 2024.
Read more »
No. 3 Senate Republican endorses Tim Sheehy in Montana in attempt to consolidate supportSen. John Barrasso (R-WY), the third-ranking Senate Republican, endorsed Montana Republican Senate candidate Tim Sheehy on Monday.
Read more »