White House proposes banning some investors from buying more homes, WSJ reports

US PRESIDENT Donald Trump’s administration has proposed banning investors with more than 100 single-family homes from purchasing additional homes, the Wall Street Journal reported on Thursday (Feb 19), citing a White House memo sent to congressional committee leaders.

The proposal, which the Journal said was sent on Thursday, includes various exemptions from the ban, including for investors who build or heavily renovate homes for the sole purpose of renting them out.

Trump administration officials are looking to get the investor ban added to a Senate housing bill currently being negotiated, according to the Journal.

The White House did not immediately respond to a request for comment late on Thursday.

Details of the ban follow an executive order Trump signed in January to restrict large institutional investors from competing with individual homebuyers in an effort to make housing more affordable.

Under pressure to address voter affordability concerns ahead of congressional elections this year, the Trump administration has implemented a raft of measures, including purchases of mortgage-backed securities, to improve housing affordability. REUTERS