Newsom Plans Crackdown on Corporate Homebuying in California (2)

California Governor Gavin Newsom will call for a crackdown on institutional investors buying up homes in the state during a speech Thursday, following a similar announcement by President Donald Trump.

Newsom plans on saying he will work with local legislators to target private equity and hedge fund investors purchasing homes in California, particularly corporate entities buying at scale, the governor’s office said in an email.

“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’s announcement ...