In a statement, he asserted that the traditional notion of homeownership as a cornerstone of the “American Dream” is steadily diminishing, particularly among younger Americans. He noted that soaring housing prices, coupled with elevated interest rates, have rendered homeownership increasingly inaccessible to a large segment of the population.
Against this backdrop, he announced plans to move promptly toward initiatives aimed at prohibiting large institutional investors from acquiring additional residential properties, emphasizing that he would call on Congress to codify the measure into law. “Homes are meant for people, not corporations,” he stated pointedly.
He further indicated that housing affordability, along with additional policy proposals in the housing sector, will feature prominently in his address at the World Economic Forum in Davos in two weeks’ time.
The debate surrounding the role of major investment firms in the U.S. housing market has intensified in recent years, as critics contend that their expanding presence—particularly in the single-family housing segment—has constrained supply and intensified upward pressure on both home prices and rents.
