• President Donald Trump announced a plan to block large investors from buying single-family homes.
• It could affect firms that have moved into the home-rental market.
• Big investors buying into housing have been a target of both political parties.

President Donald Trump announced on Wednesday that he wants to ban “large institutional investors” from buying single-family homes in the US.

“I am immediately taking steps to ban large institutional investors from buying more single-family homes, and I will be calling on Congress to codify it,” Trump said in a Truth Social post. “People live in homes, not corporations.”

The decision could negatively impact private equity companies like Blackstone that have bought up significant numbers of homes. Blackstone shares dropped immediately following Trump’s announcement.

Institutional buyers of American homes have been targeted by both Republicans and Democrats.

Former Sen. Sherrod Brown, an Ohio Democrat, introduced a bill in 2023 — the Stop Predatory Investing Act — that would prohibit landlords who own more than 50 single-family homes from obtaining interest and depreciation deductions. As a presidential candidate, former Vice President Kamala Harris endorsed that legislation.

Another 2023 Democratic-backed bill in the House and Senate would prohibit hedge funds from buying or owning single-family homes in the US. The End Hedge Fund Control of American Homes Act would force hedge funds to sell all the single-family homes they own over 10 years.

This is a developing story; check back here for updates.