Reported about 23 hours ago
New York Governor Kathy Hochul announced plans to introduce new legislation aimed at restricting hedge funds from buying large quantities of single-family homes. The proposed laws would impose a 75-day waiting period for bids on new homes and limit tax benefits for these investment firms. This initiative responds to growing concerns that hedge funds are reducing the housing supply, leaving individual buyers with fewer affordable options. Hochul highlighted the significant impact of private equity firms on the housing market and announced additional measures to support first-time homeowners.
Source: YAHOO