Trump Targets Wall Street's Home Buying to Ease Housing Crisis

U.S. President Donald Trump plans to restrict Wall Street investors from purchasing single-family homes to curb rising housing costs. The move, announced on Truth Social, aims to revive accessibility to homeownership. The proposal has sparked discussions on affordability, affecting several investor stocks like Blackstone.

In a bid to tackle sky-high home prices, U.S. President Donald Trump announced plans to prevent Wall Street investors from buying single-family homes. The initiative, described in a social media post, aims to ease housing burdens and is expected to be addressed in an upcoming speech at the World Economic Forum in Davos.

Homeownership, once deemed the American Dream, has become a distant reality for many due to inflation, Trump highlighted. This move seeks to put homes back in the hands of individuals rather than corporations, reversing a trend where financial powerhouses like Blackstone have amassed vast real estate holdings since the 2008 crisis.

The announcement had immediate financial repercussions, causing a significant drop in the stock prices of major homebuilders and real estate firms. Still, the specifics of Trump's plan, including its legal basis and pathway through Congress, remain unclear as the White House has yet to provide detailed comments.

(With inputs from agencies.)