New Florida housing bill to target out-of-state housing investors

A newly filed House Bill 401 in Florida aims to protect the housing market from multinational investment companies purchasing large numbers of homes to convert into permanent rentals. The bill would allow local governments to zone land for single-family housing, potentially preventing future price spikes. However, the National Rental Home Council opposes the bill, arguing it limits housing choices for Floridians. Currently, HB 401 lacks a companion bill in the Senate, which is necessary for its progression. Florida's home prices have recently leveled off, with a reported decline of 4-6%.