Trump's Drastic Move: Banning Wall Street from Homebuying

U.S. President Donald Trump plans to ban Wall Street firms from buying single-family homes to alleviate high home prices. Amidst voter worries about living costs, this move aligns Republicans with Democrats who have opposed corporate homebuying. The real estate market's response saw fluctuations in share prices.

In a bold move to counter the escalating housing crisis, President Donald Trump announced his administration's plan to prohibit Wall Street firms from purchasing single-family homes. This decision aims to reduce home prices and address rising inflation concerns among voters.

The initiative seeks to level the playing field for aspiring homeowners by curbing the influence of large private-equity landlords, a sector blamed for driving up housing costs. Trump's stance surprisingly aligns Republicans with Democrats, who have long criticized corporate homebuying practices.

Wall Street's response was swift, with shares of major firms experiencing notable drops. While Trump did not detail the legislative path forward, his administration is poised to introduce measures that could reshape the real estate landscape. The move reflects mounting pressure to ease cost-of-living worries before the upcoming mid-term elections.

(With inputs from agencies.)