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President Donald Trump on Monday called on Congress to pass legislation permanently restricting large investment firms from purchasing single-family homes, arguing the practice is pricing out American families.
“As I said at my State of the Union Address on February 25th, the American Dream of Homeownership is under attack. For example, Rachel Wiggins, a mom of two, from Houston, placed bids on 20 homes, and lost all of those bids to gigantic Investment Firms that bypassed inspection, paid all cash, and turned those houses into rentals, stealing away her American Dream — She was devastated! Stories like this are why I signed an Executive Order to ban large Wall Street Investment Firms from buying up single-family homes,” he wrote.
“Also, in my speech, I called for Congress to save the American Dream of Homeownership, and ban these purchases, PERMANENTLY! Senators Bernie Moreno and Tim Scott have worked to ensure my call becomes a reality, and have a Bill which has passed the Senate with nearly 90 votes. I am asking Congress to pass that Bill, the 21st Century ROAD to Housing Act, which would ensure that homes are for people, not Corporations. Thank you for your attention to this matter!” the president continued.
Housing affordability remains a major concern nationwide, with rising mortgage rates and limited inventory continuing to challenge prospective buyers.
A 2024 report by the Government Accountability Office found that institutional investors may have contributed to higher home prices and rents in some regions, particularly in parts of the South and Southwest.
Some economists, however, have cautioned that restricting institutional investors alone may not resolve broader housing shortages, arguing that supply constraints remain a key driver of affordability issues.
“The American Dream doesn’t belong to the highest bidder on Wall Street. It belongs to the American people, who work hard, save up, and play by the rules. I applaud President Trump’s leadership on this issue and urge the House to pass this bill,” Vice President JD Vance wrote in support of the policy on X.
