In an absolutely awesome post on Truth Social that shows how his administration is rising over the din of criticism from right and left to help the American people, President Donald Trump revealed that he is taking steps to work with Congress and ban institutional investors from buying up single family housing, vowing that more details will be coming soon.
As background, many on the populist side of politics have pointed to big investors and funds like those run by infamous private equity shop Blackstone as having increased the cost of single family housing, pushing it outside the reach of ordinary Americans, by buying up large swathes of such houses in some rising metropolitan areas.
Such investors own about a third of the single-family houses in the Atlanta area, according to some estimates, for example. Similarly, such funds and investors have been accused of buying up entire neighborhoods at a time, effectively pricing out young families and making a house unobtainable to buy. Many on the more Establishment side of things argue such fears are overblown.
In any case, President Trump echoed a talking point of many of his MAGA supporters to begin the post, saying that the buying of a house, rather than just renting it, has long been seen as an integral part of the American Dream. He said, “For a very long time, buying and owning a home was considered the pinnacle of the American Dream. It was the reward for working hard, and doing the right thing.”
Continuing, he noted that such dire economic problems as the sky-high inflation seen under the Biden Administration has dramatically increased the price of housing, saying, “but now, because of the Record High Inflation caused by Joe Biden and the Democrats in Congress, that American Dream is increasingly out of reach for far too many people, especially younger Americans.”
So, his proposed solution is to prohibit Blackstone and like firms from buying up single-family housing, noting that he is working with Congress to try and make such a rule the law. He said, “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.”
Concluding, he noted that it is people who live in houses, and so they should be prioritized, and that more details would be forthcoming in the next few weeks. He wrote, “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.”
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The policy was quickly praised by many on X. One such poster said, for example, “Canada is talking about letting foreign companies buy our homes in 2027. Meanwhile, Trump wants to BAN Wall Street landlords from buying up single-family houses. Love him or hate him, he’s right on this one. Homes should be owned by families. Not billion-dollar corporations.” Similarly, another said, “Great move by President Trump. Houses should be bought by the people, not hoarded as investments by institutions.”
Watch HUD Secretary Scott Turner announce illegals are being kicked off public housing, another hugely important move, here: