U.S. Representative Ro Khanna speaks during a press conference at the U.S. Capitol on November 18, 2025 in Washington, DC.
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California Democratic Rep. Ro Khanna on Friday reintroduced a bill to rein in institutional investors’ hoarding of homes, capitalizing on a similar call made recently by President Donald Trump.
In a Jan. 7 post on Truth Social, President Trump said he would “immediately take action to prohibit large institutional investors from purchasing additional single-family homes.”
Trump’s comments are one of a series of populist economic policies by the president seeking to address voters’ concerns about affordability ahead of the 2026 midterm elections.
A recent Marist poll found that only 36% of Americans approve of President Trump’s economic response, while 57% disapprove. This is a significant headwind for President Trump’s fellow Republicans as they seek to maintain slim majorities in both chambers of Congress.
In a statement to CNBC, Khanna cited President Trump’s recent support for blocking institutional investors from buying homes.
“If President Trump is serious about confronting Wall Street landlords, Congress should pass my bill and he should sign it into law,” Khanna said. “Homes should be owned by individuals, not wealthy corporate landlords who are buying up single-family homes and putting the dream of homeownership out of reach for too many Americans.”
Although the text of the bill was not immediately available, Khanna’s office told CNBC that the Stop Wall Street Landlord Act would prohibit large institutional investors from taking advantage of housing-related tax breaks such as mortgage interest, insurance and depreciation deductions.
The bill would also require the federal government and government-backed institutions such as Fannie Mae and Freddie Mac to prohibit large institutional investors from purchasing mortgages on single-family homes. Major institutional investors who sell a single-family home more than 18 months after the bill’s enactment will be subject to a real estate transfer tax equal to 100% of the home’s sale price.
Previous bills, including one introduced in late 2024, defined large institutional investors as individuals or companies with assets of more than $100 million.
Mr. Khanna has 13 co-sponsors so far, all of them Democrats. But some House Republicans may join Khanna’s effort in the wake of President Trump’s calls to halt large investors in the single-family housing market.
In an interview with CNBC, Khanna said he was willing to work with President Trump on legislation “if it actually helps the working class.”
“If he calls me, I’ll help lead the bill,” Khanna said.
President Trump is scheduled to speak at the World Economic Forum in Davos on Wednesday, where he said he will mention the housing proposal.
“In my speech in Davos, I’m going to discuss this topic, including my proposals for more housing and affordability,” Trump said on Truth Social.
