1. United States
2. Ariz.
3. Letter

The surge in institutional investment in Arizona's residential real estate market is concerning. Wall Street has poured billions into buying homes, driving up prices and making homeownership unattainable for many. This trend is not only exacerbating housing inequality but also transforming neighborhoods into investment vehicles. Other states have taken steps to regulate such practices, and it's time for Arizona to follow suit. We urge you to consider legislation that restricts institutional purchases of homes, ensuring housing remains accessible for all Arizonans. This is not just about preserving the dream of homeownership, but also about maintaining the fabric of our communities.