Governor Kathy Hochul said she wants to curb the ability of hedge funds and private equity firms from buying homes.

New York Gov. Kathy Hochul says she will push for new laws to make it harder for hedge funds to purchase large numbers of single-family homes in the state.

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.

Governor Kathy Hochul is proposing to require institutional investors to wait 75 days to make an offer on one- or two-family homes.

New York Gov. Kathy Hochul is moving to inhibit institutional investors from playing in the housing market sandbox, but the impact of any action may be limited. On Thursday, Hochul proposed several measures to curtail hedge funds and private equity firms from snapping up swaths of homes,

To address the rising cost of housing across New York, Gov. Kathy Hochul wants to limit purchases of single-family homes by private equity firms and hedge funds.

Hochul's priorities for the year include making it harder and less attractive for institutional investors like hedge funds and private equity firms to buy single-family and two-family homes. She hopes to require large investors to wait 75 days before making an offer on such properties and make the homes less lucrative from a tax perspective by banning investors from using programs such as interest and depreciation deductions.