CBCFEXECUTIVEORDERTRACKER
ExecutiveOrder#14376
DateIssued:January20,2026
Topic:Housing,EconomicOpportunity
WHATDOESTHISEXECUTIVEORDERDO?
Thisexecutiveorderseekstopreventlargeinstitutionalinvestorsfrom purchasingsingle-familyhomes.
Theorderdoesnotrestrictlargeinstitutionalinvestorsfrompurchasing homesin“rentalcommunities,”suchasAirbnb’sinpopulartourist destinations.
Theorderwasissuedinresponsetodeclininghomeownershipratesand inflation,whichPresidentTrumpattributestotheBidenAdministration’s policies.
HOWWILLTHISEXECUTIVEORDERBEENFORCED?
ThisexecutiveorderwillprimarilybeenforcedbytheSecretaryofthe Treasury.
TheorderinstructstheSecretaryoftheTreasurytodevelopdefinitionsof “largeinstitutionalinvestor”and“single-familyhome”forutilizationby federalagencies.Theordershallbeimplementedwithin30daysofthe order’sissuance.
TheorderalsoinstructstheSecretaryoftheTreasurytoreviewany existingrulesandguidancerelatedtolargeinstitutionalinvestors acquiringorholdingsingle-familyhomesandtoconsideramending themtocomplywiththisorder.
HOWWILLTHISEXECUTIVEORDERBEENFORCED?
TheorderdirectstherelevantCabinetsecretariesandtheDirectorofthe FederalHousingFinanceAgencytopreventfederalagenciesand government-sponsoredenterprisesfromapproving,insuring, guaranteeing,securitizing,orfacilitatingthepurchaseofsingle-family homesbylargeinstitutionalinvestorsthatcouldotherwisebepurchased byindividualownerswithin60daysoftheorder’sissuance.
Theorderalsocompelsfederalagenciestoimplementmeasuresto promoteindividualowner-occupanthomeownership,includingadopting anti-circumventionprovisionsandfirstlookpolicies,andadjusting disclosurerequirements.
TheorderdirectstheAttorneyGeneralandtheChairmanoftheFederal TradeCommissiontoreviewrecentacquisitionsbylargeinstitutional investorsofsingle-familyhomesinlocalsingle-familyhousingmarkets forviolationsofantitrustlaws.
TheorderrequirestheSecretaryofHousingandUrbanDevelopmentto mandatethatownersandmanagingagentsofpropertiesrentedby individualsinfederalhousingassistanceprogramsdisclosechangesin ownershiporcontroltotheDepartmentofHousingandUrban Development.
TheorderdirectstheDeputyChiefofStaffforLegislative,Politicaland PublicAffairstosendCongressalegislativerecommendationtocodify thepoliciesnecessarytoprohibitlargeinstitutionalinvestorsfrom acquiringsingle-familyhomes.
Theorderincludesaclausethatallowsindividualagenciestocreate exceptionstoenforcingthisorder.
HOWDOESTHISIMPACTBLACKCOMMUNITIES?
Thisexecutiveorderislikelytoincreasethehousingsupplyandcombat artificiallyhighrealestatepricesdrivenbycorporations.Amidthe uncertainnatureoftheeconomy,thisorderisasignaltoyounger generationsthattheTrumpAdministrationwantstomakehomeownership anattainablegoal.
Theexecutiveorderassertsthathomeownershiphasdeclinedduetothe BidenAdministration’spoliciesandhighinflationrates;however,President BidenissuedaHousingSupplyActionPlananddemonstratedastrong commitmenttofirst-timehomeownersthroughouthispresidency.In2022, theBidenAdministrationrequiredprominentlendersandagenciesto bolsterfirstlookinitiatives,whichhavehadprovensuccessinincreasing individualowner-occupancyratesinneighborhoodsofcolor.Thankstothe BidenAdministration’sefforts,FannieMaeandFreddieMacexpandedtheir firstlookinitiativefrom20daysto30days,andtheDepartmentofHousing andUrbanDevelopmentalsoestablisheda30-dayfirstlookperiodforits salesofforeclosedproperties.
DespitetheseBiden-erameasures,theBlack-whitehomeownership disparitypersists.In2024,theBlackhomeownershipratewaslowerthanin the1960s,whenhousingsegregationwaslegal.Althoughthisexecutive order’sobjectiveisto“empowerAmericanfamiliestoowntheirhomes,” withouttargetedsupportforprospectivehomebuyersofcolor,Black Americanswillcontinuetobeexcludedfromthehousingmarket.
ItisnotablethatthisexecutiveorderisadeparturefromtheTrump Administration’sotherhousingpolicies.InMarch2025,PresidentTrump signedanexecutiveorderrevokingfundingfromtheCommunity DevelopmentFinancialInstitutionsFund(CDFIFund).Aspartofthe TreasuryDepartment,theCDFIFundusesfederalresourcestoattract privatesectorfundsthatarethenusedtodevelopaffordablehousingand createeconomicopportunities.CDFIssupportBlackcommunitiesbutalso arepopularinlessdiverse,ruralareas.Bydefundingthisprogram, PresidentTrumplimitedeconomicopportunityinsomeofthepoorest areasinthecountry,includingincommunitiesthatoverwhelminglyvoted forhiminthe2024election.WithoutCDFIs,homeownershipmayremain outofreachforlow-incomeindividualsandBlackAmericans.
MembersoftheCongressionalBlackCaucus(CBC)havebeenstaunch advocatesforhousingpolicyreformsincethecaucus’inception.In2023, CBCChairRep.StevenHorsfordjoinedwiththeotherminoritycaucus leaderstosendalettertotheFederalHousingFinanceAgencyabout tenantprotectionsinenterprise-backedproperties.
“America’shousingcrisisdemandsurgentaction;inadditiontothe workthatliesaheadforCongress,theFHFAmustuseeverytool availabletoensurestabilityandaffordabilityfortenants.Giventhe broadreachofFHFA’swork,anytenantprotectionscreatedbyFHFA shouldcoverasignificantshareoftenantsacrossthenationandput Americaonapathwaytowardsstrongerprotectionsforalltenants.”
FullStatement
ToreadmoreabouttheCBC’slegacyonfairhousing,visitAvoice,our virtuallibrary.
