Executive Order No. 14376. Stopping Wall Street From Competing With Main Street Homebuyers

• Executive Order No.: 14376
• Published date: 23 January 2026
• Date: 20 January 2026
• FR Document: 2026-01424
• Pages: 3023-3025
• Citation: 91 FR 3023
• Issuer: Executive Office of the President
• Section: Presidential Documents

Federal Register, Volume 91 Issue 15 (Friday, January 23, 2026)

[Federal Register Volume 91, Number 15 (Friday, January 23, 2026)]
                [Presidential Documents]
                [Pages 3023-3025]
                From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
                [FR Doc No: 2026-01424] Presidential Documents
                Federal Register / Vol. 91 , No. 15 / Friday, January 23, 2026 /
                Presidential Documents
                [[Page 3023]]
                 Executive Order 14376 of January 20, 2026
                
                Stopping Wall Street From Competing With Main
                 Street Homebuyers
                 By the authority vested in me as President by the
                 Constitution and the laws of the United States of
                 America, it is hereby ordered:
                 Section 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 Wall Street from treating America's
                 neighborhoods like a trading floor and empower American
                 families to own their homes.
                 To preserve the supply of single-family homes for
                 American families and increase the paths to
                 homeownership, it is the policy of my Administration
                 that large institutional investors should not buy
                 single-family homes that could otherwise be purchased
                 by families.
                 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.
                 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, including through anti-
                circumvention provisions, first-look policies, and disclosure requirements.
                 (b) The guidance issued pursuant to subsection
                 (a)(i) of this section shall include appropriate,
                 narrowly tailored exceptions for build-to-rent
                 properties that are planned, permitted, financed, and
                 constructed as rental communities,
                [[Page 3024]]
                 and such other appropriate, narrowly tailored
                 exceptions as the applicable agency may determine
                 appropriate to further the policies of my
                 Administration.
                 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 and Urban Development
                 shall, to the maximum extent permitted by law, require
                 owners and managing agents of single-family home
                 rentals participating in Federal housing assistance
                 programs to disclose to the Department of Housing and
                 Urban Development direct or indirect owners, managers,
                 or affiliates, including changes in ownership or
                 control of single-family rentals, to the extent
                 necessary to determine any involvement of large
                 institutional investors.
                 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.
                 Sec. 6. Severability. 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.
                 Sec. 7. General Provisions. (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.
                
                
                 (Presidential Sig.)
                 THE WHITE HOUSE,
                 January 20, 2026.
                [FR Doc. 2026-01424
                Filed 1-22-26; 11:15 am]
                Billing code 4810-25-P