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

The bill establishes a five-year moratorium on foreign entities purchasing homes in New York state, except for primary residences. It mandates sellers to verify that buyers are not foreign entities. The Department of State, in collaboration with the City of New York Department of City Planning, must conduct a study on the effects of the moratorium on the housing market. The study will analyze various data points, including foreclosure rates, evictions, and housing market index surveys.

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

The bill establishes a five-year moratorium on foreign entities purchasing homes in New York state, except for primary residences. It mandates sellers to verify that buyers are not foreign entities. The Department of State, in collaboration with the City of New York Department of City Planning, must conduct a study on the effects of the moratorium on the housing market. The study will analyze various data points, including foreclosure rates, evictions, and housing market index surveys.