President Donald Trump signed an executive order on Tuesday aiming to stop Wall Street investors from competing with individual homebuyers, the White House said.
“To preserve the supply of single-family homes for American families and increase the paths to homeownership, it is the policy of my Administration that large institutional investors should not buy single-family homes that could otherwise be purchased by families,” Trump said in his order.
Trump, under pressure to address voter affordability concerns ahead of congressional elections this year, has recently pushed a number of major policy proposals aimed at boosting home ownership and reining in living costs.
Trump’s order on Tuesday directs his administration to issue guidance within 60 days to impose restrictions on the sale of single-family homes, according to the text of the order released by the White House.
The order also calls for additional steps, including a direction to the Treasury secretary to review the rules and guidance that relate to large institutional investors acquiring or holding single-family homes and consider revising them.
