Trump To Ban Wall Street From Buying Single-Family Homes But Will It Save The Market?
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No. …but it’s a start.
Yes, this is the news that then President Donaldo Trumpo has gotten behind a plan to ban private equity companies from buying up homes just to make a profit and pricing regular people out of ownership.
Writing on social media, Mr. Pres said, “That American Dream is increasingly out of reach for far too many people, especially younger Americans. People live in homes, not corporations.”
I mean he’s not wrong.
Ironically the 2008 housing crisis offered up cheap houses that only large investor firms could afford buy and now investors like Blackstone are landlords to tens of thousands of homes.
But already the news is having an impact with shares in Blackstone dipping 5%, the building company FirstSource also dropped 5 and Invitation Homes dipped 6%.
Homes A-Loan 2: Lost In New York ft. DJ Trump
It’s not a bad idea, but currently it’s a tiny piece of FLEXTAPE™ on burst dam. This shot at housing run for profit needs to be expanded into a full blown war until the entire culture around the market changes.
Will the business President be the one to decouple houses from profit-seekers? My guess is no, but at least he’s taking this small step.
Give him some slack though, he’s only got small feet.
For more on this story, read this: Houses Now Twice As Unaffordable As Not Affordable
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