WASHINGTON, Jan 8 (Bernama-dpa) -- US President Donald Trump said he plans to bar professional investors such as banks, insurers and large corporations from purchasing single-family homes, as part of an effort to make home ownership more affordable for Americans.
Trump said he would act "immediately" to make it easier for US citizens to buy and own a home, writing on his social media platform Truth Social, reported German news agency dpa.
"The American Dream is increasingly out of reach for far too many people," Trump wrote on Wednesday, blaming the situation on his Democratic predecessor, Joe Biden. "People live in homes, not corporations," he added.
It was not immediately clear how such bans on private equity firms and other large institutional investors would be structured or enforced. Trump said he was "calling on Congress to codify" the ban.
Public approval of Trump's handling of the economy has fallen in recent months, according to opinion polls, with Americans increasingly citing affordability concerns.
Trump also said he intends to address housing and affordability in a speech at the World Economic Forum in Davos, Switzerland later this month.
--BERNAMA-dpa
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