Trump Pushes for Investor Ban on Single-Family Home Purchases, Faces Resistance from Congressional Republicans

Odaily According to The Wall Street Journal, the White House is at an impasse with Congress over a housing proposal from Trump, which aims to prohibit Wall Street investors from purchasing single-family homes. Trump administration officials have been pressuring Republicans in recent weeks to include this investor ban as an amendment to the "21st Century Housing Act," currently advancing in both chambers. However, lawmakers in both houses have resisted incorporating the ban into the bill. Any such amendment could potentially derail the "21st Century Housing Act" and the broader, months-long bipartisan housing legislative process. The congressional bills focus on stimulating housing supply, whereas Trump has reservations about expanding supply. His housing plan announced this year places more emphasis on stimulating demand. Yet, key Republican lawmakers are currently disinclined to support this approach. House Financial Services Committee Chairman, Representative Hill, rejected the White House's request to add the relevant amendment to the "21st Century Housing Act." Republicans on the Financial Services Committee are also generally skeptical of the investor ban proposal, viewing it as contrary to free-market principles and property rights.