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,

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

Widespread purchases of single-family homes by institutional investors may be contributing to soaring housing prices and low vacancy rates across the country.

New York Gov. Kathy Hochul wants to make it more difficult for private equity firms and hedge funds to buy up residential real estate properties in the Empire State. Hochul on Thursday proposed several measures to the state budget that would prevent institutional investors from bidding on homes in the first 75 days that they are listed on the market.

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.