Governor Hochul proposes measures to curb investor dominance in NY housing market

cbs6albany.com ^ | 2.28/25 | Felix Day

[AbolishCSEU]

The plan seeks to give more families the opportunity to become homeowners by removing an incentive to private equity firms and other large investors from purchasing one- and two-family homes.

The proposed legislation would impose a 75-day waiting period before institutional investors, defined as those owning 10 or more single- and two-family properties with at least $50 million in assets, can make offers on such homes.

[AbolishCSEU]

Make no mistake about it, they will soon lower the threshold to anyone who owns a $100,000 portfolio, namely one or two doors. There is also a fine of $250,000 per incident if a housing provider steps on a "first time home buyer's toes."

In NYS they have myriads of programs to shoehorn tenants into homeownership. Such homeowners invariably have a lack of fiscal priorities and even though there are many programs to prop them up with free furnaces and water heaters, they inevitably go into foreclosure.

[E. Pluribus Unum]

Plank #1 of the Communist Manifesto: Abolition of private property in land and application of all rents of land to public purpose.

[Beowulf9]

You are so right.

[Skwor]

Welcome to government maintain slums. The apartments and houses will never be maintained and will rot with section 8 welfare tribes.

Her plan will end with all property in the hands of the government

[Vaquero]

Commie c***

[Bonemaker]

What morons are investing in New York?

[rellic]

Whole problem is this;
Those who contribute to the greater society, do so.
The ones that don’t, vote for Democrats.
I don’t like the idea of massive corporations buying up all the single family houses, But if you have ever been a landlord, that is an ungodly pain in the ass, sometimes.
Fix is Single families get the preferential choices.
Corporate Buyers get secondary considerations, after the single families have failed to complete a sale without interference from the corporations.

[heavy metal]

trump...

[CdMGuy]

Whatever Hochul says, run the other way. She is an incompetent’s incompetent.

[j.havenfarm]

With that very strange voice, face, and affect. I can’t figure it out. To me she comes across like the survivor of a minor stroke

[ChildOfThe60s]

She is a psychopath who has yet to master faking human emotion

[Colorado Doug]

I think that NY is already doing a pretty good job of running off investors.

[armydoc]

So these investors will just form multiple LLC’s that fall below the thresholds. Duh.

[AbolishCSEU]

Forming an LLC in NYS is expensive and time consuming. Yes I know you can do it outside of NYS however with Biden’s BOI in place, it’s even more of a hassle.