Former President Donald Trump said Wednesday that the U.S. should ban large institutional investors from purchasing single-family homes, arguing that corporate ownership has made housing increasingly unaffordable for everyday Americans.
In a post on Truth Social, Trump said he is “immediately taking steps” to bar large investors from buying more single-family homes and will ask Congress to codify the move into law. “People live in homes, not corporations,” he wrote, blaming high housing costs on inflation under the Biden administration.
Private equity firms, real estate investment trusts and institutional landlords have significantly expanded their ownership of single-family rental homes over the past decade, drawing criticism that they reduce supply for first-time buyers and drive up prices.
Markets reacted swiftly to Trump’s remarks. Shares of Invitation Homes, the largest owner of single-family rentals in the U.S., fell 7%, while Blackstone dropped about 4%. Other real-estate-focused investment firms, including Apollo Global Management and BlackRock, also declined.
Trump did not provide details on how the proposed ban would be implemented. He said additional housing and affordability proposals will be outlined during a speech at the World Economic Forum in Davos later this month. Meanwhile, Sen. Bernie Moreno (R-Ohio) said he plans to introduce legislation aimed at limiting large investors’ ability to buy single-family homes.
Housing affordability remains a major concern nationwide. The median existing single-family home price stood at $426,800 in the third quarter of 2025, near record highs, while the average 30-year fixed mortgage rate is about 6.19%.
Blackstone remains one of the largest private-equity real-estate owners in the U.S., with more than 230,000 apartment units and billions invested in housing-related acquisitions.
