In a memo sent Thursday to House and Senate committee leaders, the White House proposed banning investors with more than 100 single-family homes from purchasing additional homes. That designation is likely to upset many midsize investors, who had hoped the White House would go with a looser restriction. Many counted on the administration targeting only investors who own 1,000 homes or more.
“The President has made it clear that he is committed to signing legislation that truly makes purchasing a home affordable again, and a key ingredient is his popular proposal to ban large institutional investors from purchasing single-family homes,” White House spokesman Davis Ingle said.
