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Newsom and Trump have vowed to crack down on corporate homebuying. A new bill aims to curb it [Los Angeles Times (CA)]

Invitation Homes Inc. (INVH) 
Last invitation homes inc. earnings: 2/18 04:15 pm Check Earnings Report
US:NYSE Investor Relations: invitationhomes.com/about-us
The loophole — the 1031 exchange — allows investors to defer capital gains taxes when replacing one property with another, costing California $1.2 billion annually in lost revenue. Gov. Newsom and President Trump recently aligned on cracking down on corporate homebuying, with California's homeownership rate among the nation's lowest. In a rare moment of political alignment last month, Gov. Gavin Newsom and President Trump vowed to crack down on corporate homebuying . Now, a new bill aims to make it a reality. AB 1611, introduced by Assemblymember Matt Haney (D-San Francisco) in January, would eliminate a “tax loophole” that Haney says corporate landlords and investment firms use to buy up single-family homes across the state. “It's shocking to me that by design, our tax system lets large firms take advantage of tax breaks in order to outbid California families when buying homes,” Haney said. “They're able to use a tax loophole to give themselves an upper hand.” The so-calle Show less Read more
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