Documents › Executive orders › 14376
Executive Order 14376
Stopping Wall Street From Competing With Main Street Homebuyers
Signed January 20, 2026, printed at 91 FR 3023. 5 sections of substance, 1,012 words.
This order is about home buying. It says big firms crowd out families. It asks the Treasury to define the terms.
Sec. 1. Purpose and Policy
Buying and owning a home has long been considered the pinnacle of the American dream and a way for families to invest and build lifetime wealth. But because of the recent high inflation and interest rates caused by the previous administration, that American dream has been increasingly out of reach for too many of our citizens, especially first-time homebuyers. At the same time, a growing share of single-family homes, often concentrated in certain communities, have been purchased by large Wall Street investors, crowding out families seeking to buy homes. Hardworking young families cannot effectively compete for starter homes with Wall Street firms and their vast resources. Neighborhoods and communities once controlled by middle-class American families are now run by faraway corporate interests. People live in homes, not corporations. My Administration will take decisive action to stop
Buying and owning a home has long been considered the pinnacle of the American dream and a way for families to invest and build lifetime wealth. But because of the recent high inflation and interest rates caused by the previous administration, that American dream has been increasingly out of reach for too many of our citizens, especially first-time homebuyers. At the same time, a growing share of single-family homes, often concentrated in certain communities, have been purchased by large Wall Street investors, crowding out families seeking to buy homes. Hardworking young families cannot effectively compete for starter homes with Wall Street firms and their vast resources. Neighborhoods and communities once controlled by middle-class American families are now run by faraway corporate interests. People live in homes, not corporations. My Administration will take decisive action to stop
This states the case the order makes. It calls owning a home the height of the dream here. It says a home builds wealth over a life. It blames the last administration for high prices. It says first time buyers suffer most. It says big investors are buying up houses. It says families cannot outbid them.
Sec. 2. Definitions
Within 30 days of the date of this order, the Secretary of the Treasury shall develop, in consultation with the Assistant to the President for Economic Policy, definitions of ``large institutional investor'' and ``single-family home'' for the purpose of implementing this order, which other executive departments and agencies (agencies) may adopt as required for such implementation.
Within 30 days of the date of this order, the Secretary of the Treasury shall develop, in consultation with the Assistant to the President for Economic Policy, definitions of ``large institutional investor'' and ``single-family home'' for the purpose of implementing this order, which other executive departments and agencies (agencies) may adopt as required for such implementation.
This asks for definitions. Treasury has 30 days. A White House economic aide is consulted. Two terms must be defined. One is large institutional investor. The other is single family home. The definitions serve this order. Other agencies may adopt them as they carry it out.
Sec. 3.
Restrictions on the Sale of Single-Family Homes by the Federal Government. (a) Within 60 days of the date of this order, the Secretary of Agriculture, the Secretary of Housing and Urban Development, the Secretary of Veterans Affairs, the Administrator of General Services, and the Director of the Federal Housing Finance Agency, as appropriate, shall issue guidance to: (i) prevent agencies and Government-sponsored enterprises from engaging in the following, to the maximum extent permitted by law: (A) providing for, approving, insuring, guaranteeing, securitizing, or facilitating the acquisition by a large institutional investor of a single- family home that could otherwise be purchased by an individual owner- occupant; or (B) disposing of Federal assets in a manner that transfers a single- family home to a large institutional investor; and (ii) promote sales to individual owner-occupants,
Restrictions on the Sale of Single-Family Homes by the Federal Government. (a) Within 60 days of the date of this order, the Secretary of Agriculture, the Secretary of Housing and Urban Development, the Secretary of Veterans Affairs, the Administrator of General Services, and the Director of the Federal Housing Finance Agency, as appropriate, shall issue guidance to: (i) prevent agencies and Government-sponsored enterprises from engaging in the following, to the maximum extent permitted by law: (A) providing for, approving, insuring, guaranteeing, securitizing, or facilitating the acquisition by a large institutional investor of a single- family home that could otherwise be purchased by an individual owner- occupant; or (B) disposing of Federal assets in a manner that transfers a single- family home to a large institutional investor; and (ii) promote sales to individual owner-occupants,
This limits federal home sales. Five agencies have 60 days. They must issue guidance. Agencies may not help a big investor buy a single family home. That covers insuring or backing such a purchase. It applies where a person could have bought instead. They may not sell federal homes to such buyers. They must favor buyers who will live there.
Sec. 4.
Additional Measures to Combat Speculation in Single-Family Housing Markets by Large Institutional Investors. (a) The Secretary of the Treasury shall review the rules and guidance that relate to large institutional investors acquiring or holding single- family homes and consider revising them, in accordance with applicable law, if appropriate to advance the policy set forth in section 1 of this order. (b) The Attorney General and the Chairman of the Federal Trade Commission shall review substantial acquisitions, including series of acquisitions, by large institutional investors of single-family homes in local single-family housing markets for anti- competitive effects and prioritize enforcement of the antitrust laws, as appropriate, against coordinated vacancy and pricing strategies by large institutional investors in local single-family home rental markets. (c) The Secretary of Housing
Additional Measures to Combat Speculation in Single-Family Housing Markets by Large Institutional Investors. (a) The Secretary of the Treasury shall review the rules and guidance that relate to large institutional investors acquiring or holding single- family homes and consider revising them, in accordance with applicable law, if appropriate to advance the policy set forth in section 1 of this order. (b) The Attorney General and the Chairman of the Federal Trade Commission shall review substantial acquisitions, including series of acquisitions, by large institutional investors of single-family homes in local single-family housing markets for anti- competitive effects and prioritize enforcement of the antitrust laws, as appropriate, against coordinated vacancy and pricing strategies by large institutional investors in local single-family home rental markets. (c) The Secretary of Housing
This adds more steps. Treasury must review its rules on such investors. It must weigh changing them. Justice and the trade commission must review large purchases. Strings of purchases count too. They look for harm to competition. They must give priority to antitrust cases. Holding homes empty to raise rents is named.
Sec. 5. Legislation
The Deputy Chief of Staff for Legislative, Political and Public Affairs shall prepare a legislative recommendation to codify the policy set forth in section 1 of this order so that large institutional investors do not acquire single-family homes that could otherwise be purchased by families.
The Deputy Chief of Staff for Legislative, Political and Public Affairs shall prepare a legislative recommendation to codify the policy set forth in section 1 of this order so that large institutional investors do not acquire single-family homes that could otherwise be purchased by families.
This asks for a bill. A deputy chief of staff must draft it. That aide handles laws in Congress. The bill would write this order's policy into law. The aim is to stop large investors buying single family homes. Those are homes a family could have bought instead.
Sec. 6. Severability
Every order carries this. It is not what the order does.
If any provision of this order, or the application of any provision to any person or circumstance, is held to be invalid, the remainder of this order and the application of its provisions to any other persons or circumstances shall not be affected thereby.
If any provision of this order, or the application of any provision to any person or circumstance, is held to be invalid, the remainder of this order and the application of its provisions to any other persons or circumstances shall not be affected thereby.
This is the standard severability clause. If a court strikes down part of the order, the rest still stands.
Sec. 7. General Provisions
Every order carries this. It is not what the order does.
(a) Nothing in this order shall be construed to impair or otherwise affect: (i) the authority granted by law to an executive department or agency, or the head thereof; or (ii) the functions of the Director of the Office of Management and Budget relating to budgetary, administrative, or legislative proposals. (b) This order shall be implemented consistent with applicable law and subject to the availability of appropriations. (c) This order is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person. [[Page 3025]] (d) The costs for publication of this order shall be borne by the Department of the Treasury. <GRAPHIC(S) NOT AVAILABLE IN TIFF FORMAT> (Presidential Sig.) THE WHITE HOUSE, January
(a) Nothing in this order shall be construed to impair or otherwise affect: (i) the authority granted by law to an executive department or agency, or the head thereof; or (ii) the functions of the Director of the Office of Management and Budget relating to budgetary, administrative, or legislative proposals. (b) This order shall be implemented consistent with applicable law and subject to the availability of appropriations. (c) This order is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person. [[Page 3025]] (d) The costs for publication of this order shall be borne by the Department of the Treasury. <GRAPHIC(S) NOT AVAILABLE IN TIFF FORMAT> (Presidential Sig.) THE WHITE HOUSE, January
This is the closing clause that nearly every order carries. It says the order does not change what the law already allows. It also says no one can sue to enforce it.
How this order is quoted
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