Establishes a five-year moratorium on foreign entities purchasing homes in New York unless for primary residence.

The bill, known as the "House New Yorkers First Act," imposes a five-year moratorium on foreign entities purchasing residential real property in New York unless the purchase is for establishing a primary residence. Sellers must verify that buyers are not foreign entities before completing a sale. The Department of State, in collaboration with the New York City Department of City Planning, must conduct a study on the housing market's strength and stability since the moratorium's implementation.

Establishes a five-year moratorium on foreign entities purchasing homes in New York unless for primary residence.

The bill, known as the "House New Yorkers First Act," imposes a five-year moratorium on foreign entities purchasing residential real property in New York unless the purchase is for establishing a primary residence. Sellers must verify that buyers are not foreign entities before completing a sale. The Department of State, in collaboration with the New York City Department of City Planning, must conduct a study on the housing market's strength and stability since the moratorium's implementation.