New York Governor to Target Private Equity Home Ownership

Institutional investors would face new restrictions on buying housing units in New York state under a proposal that Gov. Kathy Hochul aims to pass in the state budget due April 1.

The proposal could make New York a model for increasing home ownership by eliminating incentives for hedge funds, private equity groups, and other institutional investors who would have to wait 75 days before making offers on single and two-family homes under the Democratic governor’s plan.