The "Humans over Private Equity for Homeownership Act," also known as the "HOPE for Homeownership Act," aims to tackle the growing issue of hedge funds owning multiple single-family homes, which limits availability for individual buyers. The legislation seeks to encourage these funds to sell excess properties, thereby promoting homeownership and making more homes accessible to families and individuals. To achieve this goal, the act introduces an excise tax on hedge funds acquiring new single-family residences and those exceeding a specified ownership limit.