Trump’s housing-related order leaves ‘key questions’ hanging 

President Donald Trump echoed some of his recent housing mandates while speaking at the 2026 World Economic Forum in Davos, Switzerland, today — but he did not offer much in the way of additional details or announce any new proposals, as was widely expected.

Among the many topics touched on in his Jan. 21 speech, Trump discussed his plan to ban corporate home purchases. That proposal, announced on Jan. 7, was the focus of an executive order he signed earlier this week.

Trump also reiterated that he has directed Fannie Mae and Freddie Mac to buy up to $200 billion in mortgage bonds, and he repeated calls for a credit card interest rate cap — a move, he suggested, that would help more Americans afford down payments — but stopped short of saying home prices should be lower.

Mortgage rates, which spiked yesterday, held steady following the speech.

What we know about Trump's corporate home purchase ban: During his talk at Davos, Trump suggested that institutional investors are responsible for driving up home prices.

"America will not become a nation of renters," Trump said. "That's why I have signed an executive order banning large institutional investors from buying single-family homes. It's just not fair to the public."

According to the White House, Trump's executive order directs federal agencies to prioritize individual homeowners, instructs the attorney general and Federal Trade Commission to review large institutional investor purchases, and asks the Treasury secretary to scrutinize rules related to large investors who buy single-family homes.

But economists have expressed skepticism about the ban and its ability to tackle housing's main challenge — a lack of supply — and "key questions remain," according to Jake Krimmel, senior economist at Realtor.com.

"Most importantly, the order does not define what qualifies as an 'institutional investor,' or exactly how the policy would be enforced," Krimmel said. Since institutional investors make up only a small share of buyers, "this policy is unlikely to move the needle on affordability or supply at a national level," he added.

A change to depreciation rules? Trump — who is reviewing dozens of housing-related proposals, according to Federal Housing Finance Agency Director Bill Pulte — also suggested he may consider allowing homeowners to depreciate their home, giving them access to a tax deduction investors are able to claim.

"The crazy thing is, a person can't get depreciation on a house — but when a corporation buys it, they get depreciation," the president said. "That's something we're gonna have to think about."

Tackling down payment barriers? While repeating calls for credit card companies to cap interest rates at 10% for a year, Trump described credit card debt as "one of the biggest barriers to saving for a down payment."

A capped rate, he said, "will help millions of Americans save for a home."

Trump's home value conundrum: Though the housing affordability crisis has kept many potential buyers on the sidelines — even as market conditions have shifted in their favor — Trump seemed resistant to the idea of lower home prices.

"I am very protective of people that already own a house," he said. "Every time you make it more and more and more affordable for somebody to buy a house cheaply, you're actually hurting the value of those houses."