Trump signs order to block Wall Street from gobbling up single-family homes

“To preserve the supply of single-family homes for American families and increase the paths to homeownership, it is the policy of my Administration that large institutional investors should not buy single-family homes that could otherwise be purchased by families,” Trump wrote in the order.

Trump signs order to block Wall Street from gobbling up single-family homes | New York Post


I think that's totally awesome so many of the houses where I live are rentals you can just tell by the yards how they never plant any trees and someone just comes around once a month and pisses roundup on anything the lawnmower cant reach.

I personally think renting is total bullshit it should be almost kind of outlawed.

"Tenant farming" its disgusting.

"An analysis by law and consulting firm CliftonLarsonAllen said a nationwide ban would require congressional action, writing: “A nationwide acquisition restriction requires statutory authority and cannot be implemented through executive action alone.”

And

“For a very long time, buying and owning a home was considered the pinnacle of the American Dream. It was the reward for working hard, and doing the right thing, but now, because of the Record High Inflation caused by Joe Biden and the Democrats in Congress, that American Dream is increasingly out of reach for far too many people, especially younger Americans,” Trump wrote on Truth Social.
“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.”


I want to watch this one and see what happens. Can this happen will it happen ?

"Today, I’m taking action to bring back this bedrock of the American dream. In recent years, Wall Street giants and institutional investment firms – many of you are here, many of you are good friends of mine, many of you are supporters — sorry to do this to you, I’m so sorry — but you’ve driven up housing prices by purchasing hundreds of thousands of single family homes, and it’s been a great investment.
But often as much as 10 per cent of houses on the market. You know, the crazy thing is, a person can’t get depreciation on a house, but when a corporation buys it, they get depreciation, okay. It’s something we’re going to have to think about too. I don’t know if too many people think about that.

You buy a corporation, they buy 500 houses, they buy hundreds of thousands, buy 500 houses, they can take depreciation. A person sweats and works and buys one house.

But homes are built for people, not for corporations and America will not become a nation of renters. We’re not going to do that. That’s why I have signed an executive order banning large institutional investors from buying single family homes. It’s just not fair to the public. They’re not going to be able to buy a house.

And I’m calling on Congress to pass that ban into permanent law. And I think they will."


Now that I posted the topic I will see it and remember.

Will congress do this I wonder.