Legislative Developments
Lawmakers in the Pacific Northwest introduced the HOPE for Homeownership Act, aiming to deter large institutional investors from purchasing single-family homes. The act proposes a tax penalty of 15% of the home sale price (or $10,000, whichever is greater) to discourage such acquisitions and promote individual homeownership. yahoo.com
Washington State Initiatives
To address historical disparities in homeownership, Washington state launched the Covenant Homeownership Program, providing down payment assistance to eligible buyers. As of February 2025, the program has facilitated the purchase of 247 homes, distributing $27.5 million. axios.com
