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Committee hears 'Buyers Before Billionaires' bill; debate centers on enforcement and coverage thresholds
Summary
House Bill 4128 would impose a 90‑day waiting period before the largest institutional investors can buy single‑family homes listed for sale; supporters said it protects first‑time buyers, while real estate trade groups warned a private right of action could create opportunistic lawsuits and the rental housing industry flagged definitional problems.
Supporters told the committee that House Bill 4128 — nicknamed the Buyers Before Billionaires Act — aims to prevent large institutional investors from outbidding Oregon families for for‑sale single‑family homes by imposing a 90‑day waiting period for covered entities and carving out exemptions for tenant‑occupied properties and homes already offered as rentals.
Representative Ben Bowman, the bill’s sponsor, described the measure as a narrow, preventive tool. “Oregonians should not be competing against Wall…
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