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President Donald Trump on Wednesday announced plans to ban institutional investors from purchasing single-family homes in what he sees as a means of improving affordability for Americans.
Trump wrote in a post on his Truth Social platform that, “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.”
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“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,” Trump said.
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The president added that he “will discuss this topic, including further Housing and Affordability proposals, and more, at my speech in Davos in two weeks.”
This is a developing story. Please check back for updates.
