Blackstone and Invitation Homes get hammered as Trump calls for ban on Wall Street buying single-family homes
Shares of Blackstone and Invitation Homes dove early Wednesday afternoon after President Trump called on Congress to pass a law banning large institutional investors from buying single-family homes.
Blackstone and Invitation Homes are some of the largest owners of private homes in the country. Homebuilders including PulteGroup, DR Horton, and Lennar also stumbled on the news.
Nationwide, institutional investors own a small share — less than 1%, according to the right-leaning American Enterprise Institute — of US single family homes, which has led some to argue that they have had a relatively small impact on housing prices. But their concentration in particular markets, such as Atlanta, Dallas, Houston, and Charlotte, has prompted others, like center-left think tank Third Way, to argue that their purchases can have an effect on specific markets, neighborhoods, or certain types of houses.
Blackstone and Invitation Homes are some of the largest owners of private homes in the country. Homebuilders including PulteGroup, DR Horton, and Lennar also stumbled on the news.
Nationwide, institutional investors own a small share — less than 1%, according to the right-leaning American Enterprise Institute — of US single family homes, which has led some to argue that they have had a relatively small impact on housing prices. But their concentration in particular markets, such as Atlanta, Dallas, Houston, and Charlotte, has prompted others, like center-left think tank Third Way, to argue that their purchases can have an effect on specific markets, neighborhoods, or certain types of houses.
