Two recent articles in the New York State Bar Association Real Property Law Journal capture a shift that is quietly reshaping the real estate landscape. Written by members of the Herman Katz team, Natalie McIntosh and Piero Sauñe Casas, the pieces explore two sides of the same evolving story: transparency and access.

The first examines the Corporate Transparency Act, a federal law designed to combat financial crime by requiring companies to disclose their beneficial owners. What began as a straightforward effort to increase accountability quickly became a legal battleground, with challenges centered on privacy and the limits of federal authority. Courts pushed back, enforcement stalled, and then ultimately moved forward. Now, with New York introducing its own transparency requirements set to take effect in 2026, ownership especially through LLC structures is becoming far less anonymous.

At the same time, a separate but equally pressing issue is unfolding. In her article, Natalie McIntosh explores why homeownership, long considered a cornerstone of financial stability, is becoming increasingly difficult to attain, particularly in New York. A lack of available homes, rising mortgage rates, and intense buyer competition are all contributing factors. Layered on top of that is the growing presence of institutional investors purchasing residential properties and reshaping the market in ways that make it harder for individuals to compete.

Taken together, these perspectives reveal a clear tension. As governments push for greater visibility into who owns property, fewer people are actually in a position to own it. Ownership is becoming more transparent, but also more concentrated.

What comes next will likely be shaped by continued regulation, ongoing legal challenges, and persistent pressure on affordability. For those operating in real estate, law, or investment, the takeaway is simple. The structure of ownership is changing, and staying ahead of that shift is no longer optional.

READ: Open Files or Closed Books? Navigating Corporate Transparency and Privacy Under Federal and State Disclosure Laws

READ: ‘Why Can’t I Buy a Home?’: Examining the Obstacles on the Path to Homeownership in New York