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Representative Proposes Excise, Reporting and Down‑Payment Trust to Curb Investor Purchases of Small Homes
Summary
A lawmaker presented a proposal to tax and report large investor ownership of single‑family and small multiunit homes, and to create a down‑payment trust to assist first‑time buyers, aiming to address investor-driven reduction of owner‑occupied housing supply.
Representative Hawkins testified about a bill intended to limit large investor accumulation of small residential properties and to create a housing down‑payment trust. Hawkins said the bill is designed to target large investors who purchase single‑family and 1–4 unit residences and remove those homes from the owner‑occupied market, thereby reducing supply and increasing prices. "The problem at hand is…
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