"In an incredibly polarised society, there are fewer and fewer things that seem to unite both sides of the aisle in the US political system. Yet it turns out that an objection to Wall Street's grand heist of single-family homes has done just that. We might expect Alexandria Ocasio-Cortez and Elizabeth Warren to rail against the incursion of institutional investors into residential real estate markets, causing rent prices to jump and effectively locking millions of households out of home ownership."
"However, I admit I was surprised to see JD Vance and Marjorie Taylor Greene striking a similar note. But I was completely dumbfounded to see the real estate tycoon and Wall Street darling Donald Trump sing from the same hymn sheet. Earlier this month, Trump announced his intention to ban large institutional investors, such as asset managers and pension funds, from acquiring single-family homes. On Tuesday, he signed an executive order doing just that and called on Congress to pass it into law."
Bipartisan opposition has formed against large institutional investors acquiring single-family homes, blamed for raising rents and blocking homeownership. Donald Trump announced and signed an executive order to ban asset managers and pension funds from buying single-family properties, urging Congress to enact the ban. The move targets firms such as Blackstone, which previously owned many single-family rentals. UK Labour under Keir Starmer has courted large investors despite pledges to build 1.5m homes, with housing secretary Steve Reed promoting ambitious construction plans. The policy shift signals stronger government intervention in housing markets to prioritize household access over corporate ownership.
Read at www.theguardian.com
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