Trump Declares War on Corporate Homeownership: A Bid to Restore the American Dream
In a significant and immediate move, former President Donald Trump announced his intention to ban large institutional investors from acquiring single-family homes, asserting that “People live in homes, not corporations.” This declaration signals a potential seismic shift in the U.S. housing market, aiming to address what he describes as a crisis of affordability for everyday Americans.
The Rationale: Reclaiming the American Dream
Trump framed his proposal as a direct response to the erosion of the American Dream, where homeownership has become increasingly unattainable. “For a very long time, buying and owning a home was considered the pinnacle of the American Dream,” Trump stated in a Truth Social post. He attributed the current housing woes, including record-high inflation, to the policies of President Joe Biden and congressional Democrats, arguing that these factors have pushed homeownership out of reach, particularly for younger generations.
His plan involves “immediately taking steps” to implement this ban and calling on Congress to codify it into law. The core argument is that the proliferation of corporate entities in the single-family home market has artificially inflated prices and reduced the supply available to individual buyers.
Market Reaction and Legislative Echoes
The announcement sent ripples through the financial markets, particularly affecting companies with significant stakes in single-family rental properties. Shares of Invitation Homes, the nation’s largest single-family home renter, saw a 7% decline. Investment giants Blackstone and Apollo Global Management, both with substantial real estate portfolios, also experienced drops of over 4%.
Trump’s declaration comes amidst growing bipartisan concern over corporate influence in housing. Senator Bernie Moreno (R-Ohio) echoed this sentiment, announcing plans to introduce legislation aimed at making it more difficult for large investors to purchase single-family homes. While Trump did not provide specific details on the implementation of his proposed ban, he indicated that further housing and affordability proposals would be unveiled during a speech at the World Economic Forum in Davos in the coming weeks.
The Broader Housing Landscape
The debate over corporate homeownership unfolds against a backdrop of a challenging housing market. The national median existing single-family home price stood at $426,800 in the third quarter of 2025, a slight dip from a record high of $435,300 earlier in the summer, according to the National Association of Realtors. Concurrently, the average rate on a 30-year fixed mortgage hovers at 6.19%, as reported by Mortgage News Daily, adding another layer of financial strain for prospective buyers.
Large institutional investors, including private equity firms and real estate investment trusts (REITs), have indeed significantly expanded their single-family home portfolios over the last decade. Blackstone, for instance, was identified as the largest private-equity owner of apartments in the U.S. with over 230,000 units last year, and has recently acquired major real estate companies like Tricon Residential and American Campus Communities. Critics argue that this accumulation by corporate entities directly contributes to the scarcity and escalating costs faced by individual homebuyers.
As the political rhetoric intensifies and legislative efforts begin to take shape, the future of corporate involvement in the single-family housing market remains a critical point of discussion, with profound implications for the accessibility of the American Dream.
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