Gavin Newsom and President Trump vowed to crack down on corporate home buying . The bill would ban companies that own at least 50 single-family homes from taking advantage of the tax break. AdvertisementLenny Goldberg, the policy director for the California Tax Reform Assn., worked with Haney to develop the bill. AdvertisementA few weeks prior, Trump announced immediate steps to ban institutional investors from buying single-family homes, but no specific actions have been announced. Nine companies own more than 1,000 single-family homes in California.

Source: Los Angeles Times February 24, 2026 18:31 UTC