Gov. Gavin Newsom is taking aim at institutional investors making purchases in the residential market. Following a similar announcement by President Donald Trump, Newsom is planning to work with local legislators to prevent private equity and hedge fund investors and other corporate entities from purchasing homes in California, the Mercury News reported, citing communications with the governor’s office. “The fact is that large investors are purchasing homes faster than families can buy them,” the governor’s office said. “The governor believes that working families shouldn’t be competing with large, well-capitalized investors.” Newsom shared his approach in his State of the State […]
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