President Trump on Tuesday signed an executive order prohibiting large institutional investors from buying single-family homes, part of a broader effort to address housing affordability ahead of the November midterm elections.
The order directs Treasury Secretary Scott Bessent to define “large institutional investor” and “single-family home” within 30 days. The directive also instructs Cabinet officials to prevent federal support for the purchase of such homes by large investors.
“Buying and owning a home has long been considered the pinnacle of the American dream,” Trump said in the order. He argued that recent inflation and interest rates have made that goal less attainable, particularly for first-time buyers.
Large investors, Trump said, are purchasing a growing share of single-family homes, increasing competition for individual buyers. “Neighborhoods and communities once controlled by middle-class American families are now run by faraway corporate interests,” he said.
The order tasks Attorney General Pam Bondi and Federal Trade Commission Chair Andrew Ferguson with reviewing major acquisitions in the single-family rental market. They are instructed to prioritize enforcement of antitrust laws where appropriate, including in response to coordinated vacancy or pricing strategies.
Earlier this month, Trump said on Truth Social that he was working to implement such a policy and would ask Congress to make it law.
Real estate investment firms and private equity groups have acquired large numbers of homes to rent out, a trend some experts say has disrupted the housing market.
Trump and Republican lawmakers have emphasized housing affordability as an election issue, citing inflation pressures. On Tuesday, Trump acknowledged that many Americans remain unconvinced economic conditions have improved, attributing this partly to what he called poor public relations by his administration.
