Trump says he wants to ban large investors from buying houses. It’s part of his affordability plan

1 month ago 3

By JOSH BOAK, Associated Press

WASHINGTON (AP) — President Donald Trump said Wednesday that he wants to block large institutional investors from buying houses, saying that a ban would make it easier for younger families to buy their first homes.

Trump — who has been under pressure to address voters’ concerns about affordability ahead of November midterm elections — is tapping into long-standing fears that corporate ownership of homes has pushed out traditional buyers, forcing more people to rent. But his plan does little to address the overarching challenges for the housing market: a national shortage of home construction and prices that have climbed faster than incomes.

“People live in homes, not corporations,” Trump said in a social media post as he called on Congress to codify his ban.