Housing Affordability Impact Note (Housing Development Authority)
This bill will have no effect on the cost of constructing, purchasing, owning, or selling a single-family residence. This bill prohibits “covered entities” from purchase single-family residences for at least 75 days. Covered Entities are organizations that receive funding to buy Single-Family housing stock. The intention of this bill appears to be to give individual households and non-profit organizations a chance to purchase homes before corporate/private market buyers have a chance to buy up existing properties and sell them at a higher level.