Newsom and Trump have vowed to crack down on corporate homebuying. A new bill aims to curb it - Los Angeles Times
Los Angeles Times
by Jack FlemmingFebruary 24, 2026
AI-Generated Deep Dive Summary
California is taking aim at corporate homebuying with a new bill aimed at curbing a controversial tax strategy used by large investors to gain an advantage over everyday buyers. Assemblymember Matt Haney (D-San Francisco) introduced AB 1611, which seeks to eliminate a "tax loophole" that allows corporations and investment firms to avoid capital gains taxes through a process known as a 1031 exchange. This strategy lets real estate owners defer taxes by replacing one property with another of "like-kind," essentially allowing them to bypass paying taxes on the sale of single-family homes they acquire and sell for profit.
The bill targets companies
Verticals
newscalifornia
Originally published on Los Angeles Times on 2/24/2026