Stopping Wall Street From Competing With Main Street Homebuyers

Executive Order 14376 of January 20, 2026

Stopping Wall Street From Competing With Main
Street Homebuyers

By the authority vested in me as President by the
Constitution and the laws of the United States of
America, it is hereby ordered:

Section 1. Purpose and Policy. Buying and owning a home
has long been considered the pinnacle of the American
dream and a way for families to invest and build
lifetime wealth. But because of the recent high
inflation and interest rates caused by the previous
administration, that American dream has been
increasingly out of reach for too many of our citizens,
especially first-time homebuyers.

At the same time, a growing share of single-family
homes, often concentrated in certain communities, have
been purchased by large Wall Street investors, crowding
out families seeking to buy homes. Hardworking young
families cannot effectively compete for starter homes
with Wall Street firms and their vast resources.
Neighborhoods and communities once controlled by
middle-class American families are now run by faraway
corporate interests. People live in homes, not
corporations. My Administration will take decisive
action to stop Wall Street from treating America's
neighborhoods like a trading floor and empower American
families to own their homes.

To preserve the supply of single-family homes for
American families and increase the paths to
homeownership, it is the policy of my Administration
that large institutional investors should not buy
single-family homes that could otherwise be purchased
by families.

Sec. 2. Definitions. Within 30 days of the date of this
order, the Secretary of the Treasury shall develop, in
consultation with the Assistant to the President for
Economic Policy, definitions of ``large institutional
investor'' and ``single-family home'' for the purpose
of implementing this order, which other executive
departments and agencies (agencies) may adopt as
required for such implementation.

Sec. 3. Restrictions on the Sale of Single-Family Homes
by the Federal Government. (a) Within 60 days of the
date of this order, the Secretary of Agriculture, the
Secretary of Housing and Urban Development, the
Secretary of Veterans Affairs, the Administrator of
General Services, and the Director of the Federal
Housing Finance Agency, as appropriate, shall issue
guidance to:

(i) prevent agencies and Government-sponsored enterprises from engaging in
the following, to the maximum extent permitted by law:

(A) providing for, approving, insuring, guaranteeing, securitizing, or
facilitating the acquisition by a large institutional investor of a single-
family home that could otherwise be purchased by an individual owner-
occupant; or

(B) disposing of Federal assets in a manner that transfers a single-
family home to a large institutional investor; and

(ii) promote sales to individual owner-occupants, including through anti-
circumvention provisions, first-look policies, and disclosure requirements.

(b) The guidance issued pursuant to subsection
(a)(i) of this section shall include appropriate,
narrowly tailored exceptions for build-to-rent
properties that are planned, permitted, financed, and
constructed as rental communities,

and such other appropriate, narrowly tailored
exceptions as the applicable agency may determine
appropriate to further the policies of my
Administration.

Sec. 4. Additional Measures to Combat Speculation in
Single-Family Housing Markets by Large Institutional
Investors. (a) The Secretary of the Treasury shall
review the rules and guidance that relate to large
institutional investors acquiring or holding single-
family homes and consider revising them, in accordance
with applicable law, if appropriate to advance the
policy set forth in section 1 of this order.

(b) The Attorney General and the Chairman of the
Federal Trade Commission shall review substantial
acquisitions, including series of acquisitions, by
large institutional investors of single-family homes in
local single-family housing markets for anti-
competitive effects and prioritize enforcement of the
antitrust laws, as appropriate, against coordinated
vacancy and pricing strategies by large institutional
investors in local single-family home rental markets.
(c) The Secretary of Housing and Urban Development
shall, to the maximum extent permitted by law, require
owners and managing agents of single-family home
rentals participating in Federal housing assistance
programs to disclose to the Department of Housing and
Urban Development direct or indirect owners, managers,
or affiliates, including changes in ownership or
control of single-family rentals, to the extent
necessary to determine any involvement of large
institutional investors.

Sec. 5. Legislation. The Deputy Chief of Staff for
Legislative, Political and Public Affairs shall prepare
a legislative recommendation to codify the policy set
forth in section 1 of this order so that large
institutional investors do not acquire single-family
homes that could otherwise be purchased by families.

Sec. 6. Severability. If any provision of this order,
or the application of any provision to any person or
circumstance, is held to be invalid, the remainder of
this order and the application of its provisions to any
other persons or circumstances shall not be affected
thereby.

Sec. 7. General Provisions. (a) Nothing in this order
shall be construed to impair or otherwise affect:

(i) the authority granted by law to an executive department or agency, or
the head thereof; or

(ii) the functions of the Director of the Office of Management and Budget
relating to budgetary, administrative, or legislative proposals.

(b) This order shall be implemented consistent with
applicable law and subject to the availability of
appropriations.
(c) This order is not intended to, and does not,
create any right or benefit, substantive or procedural,
enforceable at law or in equity by any party against
the United States, its departments, agencies, or
entities, its officers, employees, or agents, or any
other person.

(d) The costs for publication of this order shall
be borne by the Department of the Treasury.

THE WHITE HOUSE,

January 20, 2026.