New York Governor Kathy Hochul proposed measures to curb institutional investors in the housing market, including banning their bids on homes for 75 days after listing and eliminating certain tax benefits, such as interest deductions. Aiming to alleviate high housing costs, Hochul’s proposals address concerns about hedge funds and private equity firms driving up prices. However, data suggests inventory shortages, not institutional buyers, are the primary issue. Institutional ownership remains a small fraction nationally and regionally. Hochul’s plans will require negotiations with the Legislature, as similar legislative efforts unfold nationwide and at the federal level.
New York Governor Kathy Hochul
