Newsom plans crackdown on corporate homebuying in California

By Andrew Oxford, Eliyahu Kamisher and John Gittelsohn | Bloomberg

Gov. Gavin Newsom will call for a crackdown on institutional investors buying up homes in the state during a speech Thursday, Jan. 8, 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 buying homes in California, particularly corporate entities buying at scale, the governor’s office said in an email.