President Trump is taking steps to limit institutional home purchases as a housing affordability crisis grips the nation. Institutional purchases of homes have only exacerbated the crisis, making it harder for average buyers to compete.
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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 in a Truth Social post on Wednesday.
Trump Plans Housing Affordability Remedies as Prices, Mortgages Remain High
Trump added that he would discuss additional solutions to combat housing affordability at the World Economic Forum (WEF) Annual Meeting in Davos later this month. Blackstone (BX), one of the largest institutional buyers of single-family homes, plunged following the announcement.
With median home prices hovering near record highs and mortgage rates above 6%, buying a home remains extremely challenging for many Americans.
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