Proposal: Cap corporate landlords at 100 homes

Democratic lawmakers in some of North Carolina’s fastest growing cities want to ban corporate landlords from owning too many rental homes in areas like Charlotte and Raleigh. Rep. Kelly Alexander, D-Mecklenburg, introduced the Home Ownership Market Manipulation Act last week to cap — at 100 — the number of single-family homes that people or businesses can buy in the state’s most populous counties. The measure, co-sponsored by Democrats in Mecklenburg, Guilford and Cumberland counties, is unlikely to pass the Republican-controlled legislature. But it’s the first such proposal aimed at combating the growth of Wall Street-backed firms that have converted tens of thousands of homes to rentals across the country over the past decade.

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