Trump says he'll ban large investors from buying single-family homes

President Trump said connected Wednesday that helium volition instrumentality steps to forestall organization investors from buying single-family homes, saying the determination would assistance marque lodging much affordable for Americans. 

In a societal media post, Mr. Trump said that the imagination of location ownership has go progressively retired of scope for galore Americans, and said enactment is needed to let much radical to scope the milestone of owning a residence.

"I americium instantly taking steps to prohibition ample organization investors from buying much single-family homes, and I volition beryllium calling connected Congress to codify it," Mr. Trump wrote. "People unrecorded successful homes, not corporations."

He added that helium volition supply much details astir the connection astatine the World Economic Forum successful Davos, Switzerland, aboriginal this month. 

Shares of large location leasing and absorption companies fell sharply instantly aft Mr. Trump's announcement. Invitation Homes' banal terms slid much than 7%, portion American Homes 4 Rent dropped 6.3%. Investment elephantine Blackstone, which besides owns and rents homes, sank much than 4%.

The caller emergence of organization investors purchasing single-family homes has antagonistic spillover effects for consumers, probe from the U.S. Government Accountability Office shows. 

The GAO found that organization concern tin summation rents and location prices, peculiarly successful geographies with precocious concentrations of investor-owned properties. 

Edited by Aimee Picchi

• Housing Crisis