DENVER — Denver City Council is considering new regulations aimed at cracking down on what they call “predatory home investing” by targeting investors who buy properties at low prices and quickly resell them for profit.
Councilmember Shontel Lewis presented the proposal Monday, saying some homeowners, especially in vulnerable neighborhoods, are being pressured into selling their homes for far less than they are worth.
“It’s essentially a proposal to be able to protect folks in our city who are homeowners from being able to be preyed on,” Lewis said. “From folks who are coming to our communities intending to take their houses and sell them for more without making substantial improvements.”…