US President Donald Trump on Wednesday said that he will ban large investors from buying more single-family homes.
Trump said on his social media platform Truth Social: "For a very long time, buying and owning a home was considered the pinnacle of the American Dream," and blamed the Joe Biden administration and Democrats in Congress for high inflation, which made that American Dream "increasingly out of reach for far too many people, especially younger Americans."
"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. People live in homes, not corporations," he added.
The president said that he will expand on the proposal and outline additional housing and affordability measures during a speech at the World Economic Forum in Davos, Switzerland, scheduled for Jan. 19-23.
