US ‘will not become a nation of renters’: Trump

Core Viewpoint - Rental housing providers are considered essential partners in addressing the housing affordability challenges in the U.S. [1][6] Group 1: Institutional Investors and Housing Market - As of 2022, mega-landlords owned approximately 3% of the single-family rental (SFR) housing stock, with significant regional variations, such as 25% in Atlanta, 21% in Jacksonville, and 18% in Charlotte [2] - Trump's executive order aims to prevent large institutional investors from purchasing single-family homes, which he argues should be available for families [4][3] - Concerns have been raised regarding whether institutional investors can still build single-family homes for rent, with interpretations of the executive order being crucial [7] Group 2: Economic Factors Affecting Homeownership - Trump highlighted the inability to claim depreciation on personal homes as a disadvantage compared to corporations, which can deduct property value loss from taxes [8] - Debt was identified as a significant barrier to homeownership, with Trump proposing a cap on credit card interest rates at 10% to assist Americans in saving for homes [9] - The banking industry has criticized the proposal to cap credit card interest rates, indicating potential challenges in passing such legislation [10] Group 3: Government Actions and Market Impact - Trump announced plans for government-backed institutions to purchase up to $200 billion in mortgage bonds to lower interest rates [11] - The appointment of a new Federal Reserve chair is anticipated, which may influence monetary policy and housing finance [11]