President Donald Trump said the U.S. should bar large institutional investors from buying single-family homes, arguing that corporate ownership has helped push housing further out of reach for everyday Americans.
“For a very long time, buying and owning a home was considered the pinnacle of the American Dream. It was the reward for working hard, and doing the right thing, but now, because of the Record High Inflation caused by Joe Biden and the Democrats in Congress, that American Dream is increasingly out of reach for far too many people, especially younger Americans,” Trump said in a Truth Social post Wednesday.
“It is for that reason, and much more, that I am immediately taking steps to ban large institutional investors from buying more single-family homes, and I will be calling on Congress to codify it. People live in homes, not corporations,” he added. Private equity giants, real estate investment trusts and other large institutional investors have amassed sizable portfolios of single-family rental homes over the past decade. Many have argued that these investments have reduced housing supply for would-be homeowners and helped drive up prices.
This is a good news as far as affordability and the housing crisis goes as shares of BlackRock and Blackstone fell after news that large institutional investors (corporations owning at least 1,000 single-family homes) can no longer outbid families for houses. In early 2024, such investors spent over $1 billion on Atlanta homes, pricing out first-time buyers. Atlanta’s median home listing has climbed to $410,000, nearly double 2020 levels, amid growing concern over Wall Street’s dominance of housing. Hell, when even Gavin Newsom likes your idea, it's time to make it happen.
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