Another great move by Sweet Donny Baby!!!
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D!{ sipping coffee }
{ eating donut }
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US will ban Wall Street investors from buying single-family homes, Trump says
Jan 7 (Reuters) - U.S. President Donald Trump on Wednesday said his administration is moving to ban Wall Street investors from buying single-family homes in a bid to reduce home prices, a potential blow for private-equity landlords.
In a post on Truth Social, Trump said he was taking immediate action and would ask Congress to codify the measure, adding he would also be discussing additional housing and affordability proposals in a speech at the Davos World Economic Forum.
"For a very long time, buying and owning a home was considered the pinnacle of the American Dream," Trump wrote, going on to add that inflation had put that dream out of reach for many Americans.
"People live in homes, not corporations," Trump said.
Wall Street institutions including Blackstone have bought up thousands of single family homes since the financial crisis of 2008 led to a wave of home foreclosures. The trend has attracted criticism from housing advocacy groups and lawmakers, including Democrats, who claim institutional landlords have stoked rent inflation.
Homebuilder shares dropped sharply in the wake of Trump's comments. American Homes 4 Rent dropped to a near three-year low of $28.84 and was halted for volatility. Its shares were last down nearly 6% at $30.56.
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