Hochul Proposes Restrictions on Private-Equity Home Purchases in New York - PRESS AI WORLD
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Hochul Proposes Restrictions on Private-Equity Home Purchases in New York

share-iconThursday, January 09 comment-icon1 week ago 9 views
News sources:
nytimesNYTIMES
Hochul Proposes Restrictions on Private-Equity Home Purchases in New York

Credited from: NYTIMES

  • Governor Kathy Hochul unveiled plans to limit private-equity firms from acquiring large numbers of single-family homes in New York.
  • The proposal includes a 75-day bidding restriction for institutional investors on newly listed properties.
  • Hochul aims to remove tax benefits, such as interest deductions, for homes purchased by these firms.
  • This initiative responds to concerns about large firms driving up housing prices and decreasing availability for families.
  • Hochul emphasized her commitment to addressing high living costs, likening the situation to sentiments expressed by Jimmy McMillan.

For further details, visit the full article.

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