White House Proposes Limits on Investor Purchases of Single-Family Homes

Debate grows over impact on housing supply and affordability

Published on Feb. 20, 2026

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The Trump administration is offering new details on its plans to restrict institutional investors from buying single-family homes, proposing to target companies that own as few as 100 houses. The proposal has put large rental operators like American Homes 4 Rent squarely in focus, even as they argue they are helping address the housing shortage by building new homes for rent. The White House is urging lawmakers to pass the investor ban, but the effort has been stalled so far.

Why it matters

The proposed ban on large institutional investors buying single-family homes is a key part of the Trump administration's housing policy, aimed at making home ownership more affordable for individual buyers. However, some companies argue they are part of the solution by adding new rental supply, setting up a debate over the role of institutional investors in the housing market.

The details

The White House proposal would target companies that own as few as 100 single-family homes, a threshold that would affect only 6.3% of single-family investors according to data. The ban would not force existing investor-owned homes to be sold, and would exempt build-to-rent developments, rent-to-own programs, and purchases tied to foreclosures or other distressed properties. Government entities and community land trusts would also be exempt.

  • The White House proposal would not take effect for 180 days after enactment, giving investors and regulators time to adjust.
  • The White House has spent weeks urging lawmakers to fold Trump's proposed investor ban into major housing legislation, but that effort has been stalled so far.

The players

American Homes 4 Rent

A Las Vegas-based real estate investment trust that owns and manages more than 60,000 single-family rental homes nationwide, and has focused much of its growth on build-to-rent developments.

Bryan Smith

Chief executive officer of American Homes 4 Rent.

Samuel Landy

Chief executive of UMH Properties, a real-estate investment trust that owns and operates 145 manufactured homes.

Davis Ingle

A White House spokesman.

Sharon Cornelissen

Director of housing at Consumer Federation of America.

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What they’re saying

“There's a lot still moving … in just how all this ultimately is going to shake out.”

— Bryan Smith, Chief executive officer of American Homes 4 Rent

“What they mean to do is prevent institutional investors from coming into a town and reducing the supply of affordable housing. But preventing us from buying communities where we would add new homes doesn't achieve that purpose.”

— Samuel Landy, Chief executive of UMH Properties

“The effort to ban large institutional investors from purchasing single-family homes has strong support among the American public, as well as Republicans and Democrats, enough for it to easily become law.”

— Davis Ingle, White House spokesman (Homes.com)

What’s next

The White House is now looking at the Senate housing bill as a potential vehicle for the investor ban, and President Trump is expected to address the proposal further at the State of the Union address on Tuesday.

The takeaway

The proposed ban on large institutional investors buying single-family homes is a key part of the Trump administration's housing policy, but it has sparked a debate over the role of these investors in the housing market and whether they are helping or hindering efforts to address the housing shortage and improve affordability.