President Donald Trump signed a historic executive order on Tuesday that prohibits large Wall Street institutional investors from buying single-family homes across the United States.
What Does the Order Say?
"People live in homes, not corporations," Trump stated. The order directs federal agencies to issue guidance within 60 days to impose restrictions on the sale of single-family homes to large investors. Treasury Secretary Scott Bessent has 30 days to define what constitutes a "large institutional investor" and a "single-family home."
Why This Measure?
Trump argues that hardworking young families cannot effectively compete for starter homes with Wall Street firms and their vast resources. According to the Government Accountability Office, institutional investors own approximately 450,000 homes, representing about 3% of the single-family home market.
Market Impact
Following the announcement, shares of companies like Blackstone dropped over 5%, while Invitation Homes, the largest single-family home landlord in the country, fell 6%. The median single-family home price in the U.S. was $426,800 in Q3 2025.
What's Next?
The Attorney General and FTC Chair will review substantial acquisitions by heavy investors and prioritize antitrust enforcement against coordinated vacancy and pricing strategies in local single-family home rental markets.
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