U.S. President Donald Trump announced plans to ban large institutional investors from purchasing single-family homes, stating "I will take immediate action to prohibit" such behavior, while also calling on Congress to codify the measure into law, emphasizing "the people who live in the houses are individuals, not corporations." The move aims to address housing affordability issues, as institutions like Blackstone Group (BX) have purchased thousands of homes since 2008 and have been criticized for driving up rents. Trump's statement caused Blackstone Group's stock to drop 9%, but it is currently unclear whether the ban will be implemented through an executive order or require congressional approval.