Trump's New Policy Promotes 'Nation of Renters' Despite Rhetoric

Build-to-rent housing communities exempted from executive order targeting corporate investors

Published on Feb. 11, 2026

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President Trump has criticized corporate investors for buying up single-family homes and turning America into a 'nation of renters.' However, his recently announced executive order includes an exemption that allows these same investors to build new rental communities, a growing trend in the housing market. The build-to-rent model is seen by some as a 'natural steppingstone for homeownership,' providing quality rental options, especially for families. While the order aims to help middle-income Americans buy homes, the build-to-rent exemption appears to undermine that goal.

Why it matters

The rise of build-to-rent communities highlights the complex dynamics of the U.S. housing market, where corporate investors have been criticized for pricing out first-time home buyers, but also play a role in providing rental housing options. Trump's policy seeks to address concerns about corporate influence in the housing market, but the build-to-rent exemption suggests the administration's approach may be more nuanced.

The details

President Trump's executive order seeks to bar large investors from acquiring single-family homes, but it includes an exemption allowing them to build new rental communities. This build-to-rent model has grown rapidly in recent years, with firms like Blackstone, Invitation Homes, and major homebuilders like Lennar and D.R. Horton getting involved. These communities provide single-family rental homes with amenities, targeting families who aren't ready to buy. Housing analysts say build-to-rent can improve rental housing availability, though critics argue it still reduces home ownership opportunities.

  • In a speech last month in Davos, Switzerland, President Trump said 'America will not become a nation of renters.'
  • Trump announced his executive order targeting corporate investors in January 2026.
  • Last year, some 66,000 homes in build-to-rent communities were completed, up from just 11,000 in 2021.

The players

President Trump

The former U.S. president who has criticized corporate investors for buying up single-family homes and turning America into a 'nation of renters.'

Blackstone

A private equity firm that has been building new subdivisions of single-family rental homes.

Invitation Homes

One of the original Wall Street landlords that acquired tens of thousands of foreclosed homes to operate as rentals after the 2008 financial crisis.

Bill Pulte

A top housing official in the Trump administration who previously invested in build-to-rent properties through his own firms.

Rick Palacios Jr.

Director of research for John Burns Research and Consulting, a housing research firm, who says build-to-rent communities are a 'natural steppingstone for homeownership.'

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What they’re saying

“Homes are built for people, not for corporations. America will not become a nation of renters.”

— President Trump

“Build-to-rent is really a natural steppingstone for homeownership.”

— Rick Palacios Jr., Director of research, John Burns Research and Consulting

“Unlike small landlords, corporations that are owning 100,000-plus homes are not where we should be in America.”

— Bill Pulte, Federal Housing Finance Agency director

What’s next

The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.

The takeaway

This case highlights growing concerns in the community about repeat offenders released on bail, raising questions about bail reform, public safety on SF streets, and if any special laws to govern autonomous vehicles in residential and commercial areas.