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.
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White House offers new details on its push to ban housing investors
“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.
