A healthy Pennsylvania begins with a healthy home. Safe, stable housing strengthens the social fabrics of entire communities. When families can put down roots, communities thrive. But faceless private equity firms are eroding this foundation by driving displacement, inflating rents, and destabilizing neighborhoods. This is not just economic distortion; it is a public health threat. In the near future, we will introduce new legislation to limit tax breaks for private equity firms and large investors that purchase 25 or more single-family rental homes in the Commonwealth.

According to a study from the University of Pittsburgh, private equity firms and investors backed by Wall Street are increasingly impacting Pennsylvania's housing market, making it harder for many working families to achieve homeownership. Wall Street hedge funds and private equity firms are buying single family homes by the hundreds in the Commonwealth and over the past decade, housing costs for both renters and homeowners have nearly doubled. Currently, 48.5% of renters and 20.3% of homeowners in Pennsylvania spend more than the recommended 30% of their income on housing expenses.

Many families are losing their homes and being forced out of their communities because large corporations are purchasing properties solely for profit. Housing should be regarded as a fundamental human right, not merely a way for wealthy investors—who do not live in our neighborhoods—to profit at the expense of those seeking stable and safe housing.

That’s why we are proposing legislation modeled after federal legislation introduced by Congresswomen Summer Lee and Emilia Sykes that would restrict tax breaks for large investors and private equity firms planning to buy more of the state's existing stock of homes and aims to help more families achieve homeownership across the Commonwealth.

Please join us in signing on to this important legislation to prioritize our working families in PA.