Trump Curbs Wall Street’s Impact on Main Street Homebuyers

President Donald J. Trump has taken a decisive step to safeguard the aspirations of American families by signing an Executive Order aimed at curbing Wall Street’s influence on homeownership. This Order seeks to ensure that single-family homes remain accessible to individuals and families rather than institutional investors.

New Executive Order Details

The Executive Order directs federal agencies to implement policies that prohibit large institutional investors from purchasing single-family homes. Key features of the Order include:

• Guidance to deter Federal programs from facilitating sales to institutional investors.
• First-look policies that prioritize individual buyers during foreclosures.
• Disclosure requirements for institutional ownership in single-family rental properties.
• Anti-circumvention measures to prevent loopholes.

Focus on Homeownership for Families

This initiative is crucial as high inflation and rising interest rates have made homeownership increasingly challenging for many families. President Trump emphasized that homeownership symbolizes the American Dream and serves as a pathway to building long-term wealth.

Impact of Institutional Investors

In recent years, significant institutional investment in single-family homes has disrupted local housing markets. These investors often have the financial leverage to outbid first-time buyers, transforming neighborhoods into rental portfolios. This trend has not only decreased the availability of homes for families but also inflated home prices, further complicating the dream of homeownership for hardworking Americans.

Strengthening Federal Programs

The Executive Order empowers the Secretary of Housing and Urban Development to identify large institutional investors involved in federally assisted housing. Additionally, the Attorney General and the Federal Trade Commission will review these acquisitions for anti-competitive practices in the rental market.

Support for Families and Future Initiatives

President Trump’s actions align with his commitment to making housing affordable again. He has instructed Fannie Mae and Freddie Mac to acquire $200 billion in mortgage-backed securities to help lower borrowing costs. Other initiatives include:

• Blocking unfinalized Biden-era rules, saving families an average of $2,100.
• Implementing the largest tax cut in American history, increasing typical family paychecks by over $10,000.

Continuing Economic Relief

Through these measures, Trump aims to combat the economic challenges stemming from the previous administration’s policies. His focus remains on providing relief and opportunities for American families to achieve their homeownership dreams amidst ongoing financial pressures.