1. United States
2. Calif.
3. Letter

I’m writing as a California resident and concerned community member to strongly urge you to support AB 1240, the bill that limits large corporate landlords from continuing to buy up single-family homes in our state. California families are being priced out of homeownership because institutional investors are purchasing thousands of houses, often outbidding everyday buyers with cash offers. These homes are then converted into long-term rentals, locking generations of Californians out of the dream of owning a home and weakening the fabric of local neighborhoods. AB 1240 targets corporate landlords that already own 1,000 or more single-family homes by prohibiting them from acquiring more. This is not about stopping growth or investment — it’s about protecting communities from monopolization and speculation. The bill allows enforcement by the Attorney General, with fines and required property sales for those who violate the law. This is exactly the kind of bold, common-sense action California needs to begin restoring balance to the housing market. This bill doesn’t hurt mom-and-pop landlords or responsible small-scale investors. It reins in corporate bulk-buying that worsens our housing crisis, drives up rent, and undermines access to stable, long-term housing — especially for first-time buyers, educators, and essential workers. California’s housing crisis won’t be solved by allowing Wall Street to own our neighborhoods. AB 1240 takes a stand for fairness, affordability, and community. Please vote YES on AB 1240. Let’s prioritize people over profits