Trump urges Congress to bar large investors from buying more single-family homes

President Trump said in a social media post that he wants Congress to take immediate steps to stop private equity firms and other large investors from buying more single-family homes. The post contained few details, though Mr. Trump promised to say more during a speech this month at the World Economic Forum.

Critics say Wall Street-backed firms that buy homes to rent have driven up prices in some markets and made it harder for first-time buyers to purchase houses. The proposal could affect big operators of single-family rentals, and stocks of Blackstone, Invitation Homes and American Homes for Rent fell between about 4 and 6 percent after the post.

The Times notes institutional firms own only about 4 percent of single-family rental properties and that small investors make up the vast majority of owners; past congressional measures to limit institutional buying stalled, but Mr. Trump’s backing could give the idea bipartisan momentum.

Maite Solis of the National Rental Home Council said the group “appreciate[s] the administration’s focus on ensuring Americans have access to a diverse mix of housing options.” Details of any legislative plan remain scarce. The White House did not immediately respond to a request for comment, Mr.

Key Topics

Politics, Donald Trump, Blackstone, Invitation Homes, World Economic Forum, Single-family Homes