Democrats Offer Alternative to Trump Plan to Limit Wall Street Homebuyers

Senate Democrats unveiled a bill on Tuesday that offers a different approach to limiting Wall Street investors’ purchases of single-family homes, setting up a direct contrast with President Trump’s proposal. Mr. Trump’s plan would bar most large investors from continuing to buy single-family homes to operate as rentals, while carving out a major exemption for build-to-rent communities — developments in which single-family homes are built to be operated solely as rentals.

Those projects involve some of the same Wall Street landlords he has blamed for preventing average Americans from owning homes. The Democratic bill would end tax breaks that allow large investors to deduct depreciation and mortgage interest and would bar Wall Street firms from buying foreclosed homes sold by a federal housing agency.

Its 17 Democratic sponsors said savings from ending the tax breaks would be used to build more affordable housing and promote homeownership.

United States

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