00:00President Trump has announced he's banning big institutional investors from scooping up single
00:06family houses. This is actually a trend, if you didn't know, where big banks and investment and
00:11private equity firms buy up homes and then rent them out. The practice is great for banks and
00:17terrible for everyone else. The practice drives up the cost of buying a house, a key part of the
00:23American dream, an increasingly fleeting notion that the president pointed to in a truth social
00:28post. In many cases, banks will buy up entire subdivisions meant to be starter homes, taking
00:33much of the inventory off the market. Now, in his announcement, Trump also wrote, quote,
00:39I am immediately taking steps to ban large institutional investors from buying more
00:43single family homes, and I will be calling on Congress to codify it. People live in homes,
00:49not corporations. Now, we don't have details for how exactly that plan will play out just yet,
00:54but however it works, it's going to be the latest move from the administration to combat
00:59the affordability crisis, taking away a key Democratic talking point ahead of November's
01:04midterm elections.
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