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New York governor aims to curb hedge fund home purchases to protect buyers

share-iconFriday, January 10 comment-icon3 weeks ago 10 views
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apnewsAPNEWS
New York governor aims to curb hedge fund home purchases to protect buyers

Credited from: APNEWS

  • New York Governor Kathy Hochul has announced plans to introduce legislation that would impose restrictions on hedge funds buying single-family homes.
  • The proposed legislation would include a 75-day waiting period for large investment firms before they can bid on newly listed homes.
  • Additionally, the plan aims to reduce certain tax benefits available to these firms when purchasing homes.
  • This initiative responds to growing concerns over housing scarcity and limited options for individual buyers and families.
  • Hochul emphasized that large investors are significantly impacting the housing supply, further exacerbating the affordability crisis.

For the full article, visit AP News.

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Atlas Winston

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