The New Hampshire House of Representatives convened on February 6, 2025, to address the pressing issue of corporate ownership in the housing market, particularly its impact on families and young residents. A key focus of the session was House Bill 623, which aims to prevent corporations from outbidding families in the purchase of single-family homes.

Representative Murray highlighted the alarming trend of corporate entities dominating the housing market, noting that corporate ownership of single-family homes surged by 80% between 2020 and 2021, with a steady increase of 10 to 15% annually thereafter. This trend has significant implications for New Hampshire, where many families are being priced out of the market. Murray shared her personal experience of being outbid by corporations, emphasizing the emotional toll this has on families seeking stable housing.

The proposed legislation seeks to create a temporary prohibition on corporate purchases of single-family homes for 90 days, allowing families a fair chance to compete in the market. Murray argued that this bill is essential for encouraging young people to remain in New Hampshire and for fostering family growth in the state.

However, the bill faced opposition from some representatives who raised concerns about its broad language and potential unintended consequences. Representative Cole argued that the bill could inadvertently hinder property transactions and create delays in the market, ultimately affecting all buyers, not just corporations. He pointed out that corporations currently own only a small fraction of the housing market in New Hampshire, suggesting that the issue may not be as widespread as portrayed.

Despite the debate, the House ultimately decided to table the bill, allowing for further discussion and potential amendments to address the concerns raised. A floor amendment is expected to be introduced, which may transform the legislation into a study committee aimed at finding a consensus solution to the housing crisis.

As the session concluded, the representatives acknowledged the urgency of addressing the housing challenges facing Granite State families. The discussions underscored the need for a balanced approach that protects homebuyers while considering the complexities of the housing market. The next steps will involve refining the proposed legislation to ensure it effectively addresses the concerns of both families and the broader community.