PESP statement on Trump’s proposed ban on institutional investor purchases of single-family homes

Today, President Donald Trump announced in a Truth Social post that he would move to ban large institutional investors from buying single family homes in the future. 

In recent years, institutional investors such as private equity firms have significantly increased their presence in the housing market, reshaping the landscape of homeownership and rental housing. These private equity landlords have capitalized on rising housing demand and limited supply by purchasing large volumes of single-family homes, apartment complexes, and manufactured housing communities.

Below is the statement of Jim Baker, executive director of the Private Equity Stakeholder Project, on President Trump’s announcement:

“The housing affordability crisis facing the United States demands robust, comprehensive action to protect Americans from the unfettered greed of private equity landlords. While we welcome President Trump’s move to prevent future purchases of single family homes, policymakers shouldn’t stop there. 

“Private equity’s role in the American housing crisis goes far beyond ownership of single family homes: the industry also owns over 10% of all U.S. apartments and has been aggressively pursuing buyouts of manufactured housing communities. 

“Americans renting from private equity landlords have been subject to deferred maintenance, junk fees, exorbitant rent hikes, pest and mold issues, and aggressive evictions. Many of the states and metropolitan areas with the largest concentration of private equity-owned housing have also seen some of the largest recent increases in “cost burdened” renters who pay 30% or more of their income on rent and utilities.

“Residents of manufactured housing communities have suffered similar mistreatment by their private equity owners: rent hikes of as much as 100%, lack of clean water and other water quality issues, neglected amenities, and unjust evictions. 

“Single-family housing is not the only piece of this puzzle. Every single American deserves to live in dignity in stable, secure housing without fear of exploitation, whether they live in a house, a mobile home, or an apartment. We hope to see policymakers take bold, urgent action to further rein in private equity’s major role in the U.S. housing affordability crisis.”