Photo via CSPAN
By Reason
During his State of the Union address, President Donald Trump touted his executive order cracking down on large institutional investors purchasing single-family homes and then letting them out as rental housing.
“I signed an executive order to ban large Wall Street investment firms are buying up in the thousands single family homes, and now I’m asking Congress to make that ban permanent, because homes for people, really that’s what we want. We want homes for people, not for corporations. Corporations are doing just fine,” said the president.
Trump’s executive order did not in fact go so far as to actually ban institutional investors from owning single-family homes.
Instead, federal departments were directed to avoid doing anything to finance, insure, or facilitate large companies buying single-family housing. The order also threatened antitrust action against companies that bought large amounts of homes.
