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Donald Trump said his administration is moving to ban large institutional investors from buying single-family homes in a bid to reduce home prices. (www.theguardian.com)

submitted 5 days ago* (last edited 5 days ago) by pelespirit@sh.itjust.works to c/politics@sh.itjust.works

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In a post on Truth Social, his social media platform, the US president said he will be asking Congress to codify the measure and will be discussing additional housing and affordability proposals in a speech at the Davos World Economic Forum.

Trump capitalized on concerns around affordability during the 2024 presidential election campaign, pledging to rapidly reduce the cost of living for millions of Americans.

Since he returned to power a year ago, however, concerns around prices and affordability have persisted as inflation remained stubbornly above typical levels. two people in FBI jackets look at a car that crashed into a pole Minnesota woman fatally shot by ICE agent during raid, video shows Read more

House prices soared to record levels in the US during the pandemic, before slipping back. The median sale price stood at $410,800 last year, according to the US Census Bureau.

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[–] FauxLiving@lemmy.world 3 points 5 days ago

He’s probably shaking someone down with this.

He's been using the government to attack the elites who support Democrats in order to weaken them politically while using the power of the government to enrich the elites who support him.

Financial institutions have primarily supported Democrat candidates and the 'buy up all of the homes and rent them at inflated prices due to the supply shortage that we've created' racket is one of their most profitable projects.

I agree that this should be done, but Trump is doing it for political power. He can appease the working people by hurting the elites of the other party so it's a simple choice. This is also why every tech company has fallen to their knees the moment Trump was elected, he was talking about revoking Section 230 which would make companies that host user-generated content (essentially every app/site) directly liable for the content posted on their services. This would kill every social media website overnight as, otherwise, Facebook would be directly responsible when its users posted illegal material.

Trump has also used the FCC to attack Left-leaning networks and he's used the illegal firings and defundings as a way to kill public radio which is viewed as being part of the Left.

For every $1 you save in housing costs, you'll lose $10 or a family member from Trump using the military to steal the largest oil reserves on Earth for himself (and the friendly oligarchs).