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Krasnow introduces bill to curb institutional buying of single‑family homes and alter tax rules
Summary
Representative Emily Krasnow introduced H607 to impose a 90‑day waiting period on institutional purchases of listed single‑ and two‑family homes and to remove certain depreciation and interest tax deductions for covered properties, aiming to keep homes affordable for local buyers; committee members asked about definitions, data gaps and potential loopholes.
Representative Emily Krasnow introduced H607 on Jan. 14, a bill she described as “grounded in a simple but urgent principle: Home should first and foremost be homes, not financial instruments.” The measure would impose a 90‑day waiting period after a property is publicly listed before large institutional real‑estate investors could purchase single‑ or two‑family homes, and would eliminate depreciation and interest deductions for covered properties held by those investors, with exemptions for sales to owner‑occupants and nonprofit affordable‑housing providers.
Krasnow told the House General & Housing Committee the bill is meant to preserve opportunities for first‑time buyers, working families and local residents to compete…
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