Shares of Blackstone (BX) are underperforming on Wednesday after President Donald Trump said in a social media post that he is “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. I will discuss this topic, including further Housing and Affordability proposals, and more, at my speech in Davos in two weeks,” the President further stated. Publicly traded homebuilders include Beazer Homes (BZH), D.R. Horton (DHI), Hovnanian (HOV), KB Home (KBH), Lennar (LEN), M.D.C. Holdings (MDC), PulteGroup (PHM) and Toll Brothers (TOL). Blackstone (BX) is a dominant player among private equity firms buying homes, alongside other major investors like Starwood. Blackstone in early afternoon trading is down almost 6%, or $9.20, to $153.45.
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