Trump’s Vision: No More Corporate Homeowners

Two people shaking hands over a real estate contract with a model house in the foreground

Wall Street investors could soon face a total ban from buying single-family homes, delivering President Trump’s vision of homes for families, not corporations.

Story Highlights

Sens. Josh Hawley (R-MO) and Jeff Merkley (D-OR) introduce the Homes for American Families Act today, amending antitrust law to block funds over $150 million from purchasing single-family homes.
Follows Trump’s January executive order and February 24 State of the Union call to make it permanent, prioritizing American families over institutional buyers.
Targets areas like Atlanta (28% investor-owned) and Charlotte (20%), where cash-rich firms outbid families like Raysall Wiggins, who lost 20 bids.
Bipartisan push fulfills Trump’s campaign promise amid housing shortage needing 4 million more homes.

Hawley-Merkley Bill Targets Wall Street Homebuyers

Senators Josh Hawley and Jeff Merkley scheduled the Homes for American Families Act for introduction on February 26, 2026. The legislation amends the Sherman Antitrust Act of 1890 to prohibit investment funds with over $150 million in assets from buying single-family homes, condos, or townhouses, excluding homebuilders. The Justice Department’s antitrust division handles enforcement. This marks the first legislative proposal after Trump’s State of the Union address urging permanence for his executive actions.

Trump’s Executive Order Sets Stage for Legislation

President Trump signed an executive order in January 2026 directing federal agencies including HUD, Treasury, DOJ, and FTC to halt approvals, guarantees, or facilitation of single-family home sales to large institutional investors. The order promotes first-look policies for individual buyers and reviews antitrust practices. Trump highlighted Raysall Wiggins’ story in his February 24 State of the Union, where the Ohio worker lost 20 home bids to cash-buying firms. He called for Congress to codify these protections.

Housing Crisis Fueled by Investor Expansion

Institutional investors grew into single-family rentals after the 2008 crisis amid collapsed home construction. They now own 3.8% of single-family rentals nationally, rising to 28% in Atlanta and 20% in Charlotte. Federal Reserve data indicates homebuyers require 43% above median income for typical homes, with 83% of Americans saying buying is harder than in past generations. Goldman Sachs estimates a 4 million home shortage as the primary affordability driver.

Stakeholders Align on Family-First Approach

Hawley seeks to shield families from price hikes by Wall Street. Merkley aims to stop billionaire corporations from gobbling homes. Trump’s administration memo proposes limits beyond 100 homes per investor. Agencies like DOJ and FTC gain enforcement roles. While investors like Blackstone provide rentals, critics argue they crowd out families pursuing the American Dream. Bipartisan appeal leverages Trump’s momentum despite mixed GOP views.

Potential Impacts and Expert Concerns

Short-term, the bill boosts individual buyers’ edges in high-investor markets and limits federal support for purchases. Long-term, it risks rental supply drops, affecting mortgage-ineligible renters and potentially worsening shortages since investors are net sellers. A 2022 University of Michigan study notes investors enhance housing diversity despite price effects. Experts like Urban Institute highlight investors’ minor national role but local significance, urging supply-focused bills.