President Donald Trump urged Congress to make his ban on the number of single-family homes investors can buy permanent during his State of the Union address Feb. 24.
“We want homes for people, not for corporations,” he said.
Trump first announced in January on Truth Social that he wanted to ban large institutional investors from acquiring single-family homes.
He also signed the “Stopping Wall Street from Competing with Main Street Homebuyers” executive order, which stated, “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.”
At the time, Sen. Elizabeth Warren (D-Mass.) noted Democrats had pushed for a similar ban for years but had difficulty getting bipartisan support for such a prohibition.
Housing policy did not make up much of Trump’s hour and 47 minute State of the Union address, the longest in history. He did say the typical mortgage has been down almost $5,000 since he took office.