President Donald Trump signed an executive order to prohibit Wall Street investors from purchasing single-family homes, aiming to make home ownership more accessible for American families. The order tasks the Treasury and economic advisors with implementing the mandate within 60 days, while the Department of Justice and Federal Trade Commission will review large acquisitions. This move is part of Trump's effort to address rising living costs ahead of the mid-term elections.

The order comes as Trump attempts to combat the trend of corporate homebuying, which has intensified since the 2008 financial crisis. Firms like Blackstone Inc and American Homes 4 Rent have acquired thousands of single-family homes, drawing criticism from voters and Democrats. The administration previously ordered mortgage giants Fannie Mae and Freddie Mac to buy $200 billion in mortgage bonds to lower house prices.

This executive action is a response to the growing challenges faced by first-time home buyers due to high mortgage rates and steep home prices. The Democrats have previously attempted, but failed, to pass legislation limiting corporate home ownership. The order underscores the administration's focus on economic issues as it faces its first significant political test in the upcoming elections.

Investors and homebuyers are now watching how this order will impact the housing market and whether it will effectively curb institutional buying. The move could potentially reshape the real estate market dynamics, especially as the mid-term elections approach.