"Often as much as 10% of houses on the market. Homes are built for people, not for corporations, and America will not become a nation of renters, he added. That's why I have signed an executive order banning large institutional investors from buying single-family homes. It's just not fair to the public. Trump said he will ask Congress to codify the ban into permanent law."
"he argued that rising credit card debt has become one of the biggest barriers to saving for down payment on a home. According to Trump, profit margins for credit card companies now exceed 50%, while interest rates charged to consumers often range from 28%, 30%, 31%, 32%. I'm asking Congress to cap credit card interest rates at 10% for one year, and this will help millions of Americans save for a home, Trump said."
Large institutional investors purchased hundreds of thousands of single-family homes, sometimes amounting to about 10% of homes on the market. An executive order bans large institutional investors from buying single-family homes, with a request to Congress to codify the ban into law. Rising credit card debt is identified as a major barrier to saving for down payments, with profit margins for credit card companies exceeding 50% and consumer rates often between 28% and 32%. A one-year cap of 10% on credit card interest is proposed to help Americans save for homes. Fannie Mae and Freddie Mac were instructed to increase mortgage bond purchases to lower interest rates, and plans include appointing a new Federal Reserve chair amid criticism of the current chair's timing on rate decisions.
Read at www.housingwire.com
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