Trump pushes for a ban on investor single-family home purchases, faces resistance from Congress Republicans

Odaily Planet Daily reports that according to The Wall Street Journal, the White House is at an impasse with Congress over a housing proposal by Trump, which aims to prohibit Wall Street investors from purchasing single-family homes. Officials from the Trump administration have recently pressured Republicans to include this investor ban as an amendment to the current “21st Century Housing Act” progressing through both chambers, but lawmakers in both houses oppose including the ban in the bill. Any such amendment could jeopardize the “21st Century Housing Act” and the housing legislation that has been brewing for months with bipartisan consensus. The bill in Congress focuses on stimulating housing supply, but Trump is cautious about expanding supply; his housing plan announced this year is more focused on stimulating demand. However, key Republican lawmakers are currently not inclined to do so. House Financial Services Committee Chairman and Representative Hill rejected the White House’s request to add the relevant amendment to the “21st Century Housing Act.” Republicans within the Financial Services Committee also generally remain skeptical of the investor ban proposal, believing it violates free market principles and property rights.