Trump says he’ll restrict corporate purchases of single-family homes; Moreno says he’ll back that

WASHINGTON - President Donald Trump announced Wednesday that he will return contiguous steps to prohibition ample organization investors from purchasing single-family homes, a move that Sen. Bernie Moreno of Ohio said he would present authorities to codify into law.

Trump made nan announcement connected Truth Social, stating he is “immediately taking steps to prohibition ample organization investors from buying much single-family homes, and I will beryllium calling connected Congress to codify it.”

Trump’s announcement provided fewer specifics astir really nan prohibition would beryllium implemented aliases what would suffice arsenic a “large organization investor.” He said he will uncover much astatine a reside successful Davos successful 2 weeks.

Hours later, Moreno announced his support for nan plan, saying he would present authorities to make Trump’s prohibition imperishable law.

“Millions of young Americans person been locked retired of nan American Dream,” said a societal media station from nan Westlake Republican that praised Trump for “finally fighting back.”

The announcement comes arsenic firm ownership of residential properties has surged nationwide, pinch peculiar effect successful Ohio. According to a November 2025 study from nan Lincoln Institute of Land Policy, corporations now ain 8.9 percent of residential parcels crossed 500 analyzed counties nationwide—roughly 1 successful 11 parcels. In Franklin County, Ohio, firm ownership exceeds 20 percent.

A 2022 study by nan Vacant and Abandoned Property Action Council recovered that business buyers of homes successful Cuyahoga County astir tripled from 7.2% successful 2004 to 21.1% successful 2020, pinch purchases expanding peculiarly quickly successful Cuyahoga Heights, Garfield Heights, Maple Heights and Valley View.

While Trump’s announcement marks a caller Republican attraction connected nan issue, Ohio Democrats person been advocating for restrictions connected firm homebuyers for years—including Sherrod Brown, nan erstwhile Democratic Senate Banking Committee chair whom Moreno defeated successful 2024.

In 2023, Brown joined pinch Senate Finance Committee Chair Ron Wyden and different Senate Democrats to present authorities to artifact investors who ain 50 aliases much single-family rental homes from deducting liking aliases depreciation connected those properties.

At nan time, Brown noted that conscionable 2 companies, VineBrook and American Homes 4 Rent, together person bought much than 12,000 homes successful Ohio. In 2021, 16% of homes successful Cleveland were purchased by investors, he said, pinch 1 zip codification reaching 70%. In Cincinnati, investors bought 15% of homes and astir 50% of homes successful immoderate communities. One institution bought 29 homes connected a azygous street.

U.S. Rep. Emilia Sykes, an Akron Democrat, has introduced akin authorities this year.

“With location prices continuing to soar, galore Ohioans are struggling to spend homeownership, and immoderate are being priced retired of nan neighborhoods they’ve lived successful each of their lives,” said a connection from Sykes. “It’s unfair for homeowners to person to compete pinch deep-pocketed investors who are adding to their existent property portfolios, meantime they thrust up rents and trim nan lodging proviso while receiving generous taxation breaks.”

Impact connected Ohio communities

The rumor has been peculiarly acute successful immoderate Cleveland-area communities. From 2012 to 2020, ZIP codes 44125 and 44137—which see Cuyahoga Heights, Garfield Heights, Maple Heights, and Valley View—saw increases of 30.5% and 34.9% successful purchases of single-family homes, duplexes, and three-family dwellings by extracurricular businesses, according to cleveland.com’s study of nan 2022 report.

At a 2022 Senate Banking Committee hearing, Cleveland Director of Building and Housing Sally Martin testified astir nan effect firm location purchases had connected residents. She described really an aged resident pinch a lodging voucher was evicted aft 19 years erstwhile her section landlord sold to an out-of-state finance company.

“The female was incapable to unafraid different lodging for herself, her sister pinch dementia, and her granddaughter, and they were evicted from nan home, pinch galore of their possessions and medications near inside,” Martin said.

Martin besides noted that successful South Euclid, nan mostly of nan city’s 1,600 aliases truthful rental units are owned by out-of-state and world investors. “Our residents are bombarded pinch postcards, matter messages, and different trading materials offering to bargain their homes for cash,” she said.

Sabrina has worked successful The Plain Dealer's DC bureau since 1994. Before that, she covered section news successful Lake and Geauga Counties. She antecedently worked astatine States News Service, The Daily Record of Morristown, NJ,...