Committee hears 'Buyers Before Billionaires' bill; debate centers on enforcement and coverage thresholds
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.
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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.
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