Stopping Wall Street from Competing with Main Street Homebuyers
Directs federal agencies to restrict institutional investors from purchasing single-family homes in markets experiencing housing affordability crises.
Section by Section
What each section does, and how they differ.
Addresses Wall Street's acquisition of single-family homes as contrary to the American dream of homeownership and directs federal action to prevent institutional investor purchases.
Directs the Secretary of Treasury to develop definitions of 'large institutional investor' and 'single-family home' within 30 days.
Within 60 days, directs federal agencies and government-sponsored enterprises to prohibit sales to large institutional investors, promote sales to individual owner-occupants, and exclude build-to-rent communities from restrictions.
Directs Treasury to review tax rules, DOJ and FTC to review acquisitions for antitrust violations, and HUD to require disclosure of institutional investor involvement in federal housing programs.
Directs preparation of legislative recommendations to codify the policy preventing large institutional investors from acquiring single-family homes purchasable by families.
Standard severability clause: if a court strikes any provision, the rest of the order stands.
Standard boilerplate: preserves existing agency authority, conditions the order on appropriations, and creates no enforceable private rights.