do you have a reference for that 40% number. I have a hard time believing it is accurate, and especially not for single family homes. It looks like large companies own 2% of single family homes in my state of California. This reference puts the number at 3% of single family homes nation wide being institutionally owned, or 446,000 out of 15,1 million homes [Ref 1, pg 9].

There is also a fundamental tension between forces driving people into dense urban apartments and the desire for home ownership. When you look at dense European cities, virtually nobody owns their flat.

Overall, Im not opposed to banning mega investors, but think it will just make more opportunity for small scale rental companies. This reference [2], talks about some of the laws proposed in California, but also has a lot of valuable context.

https://www.brookings.edu/wp-content/uploads/2023/11/2023110...

https://calmatters.org/housing/2024/03/institutional-investo...