Shares in Blackstone cratered on Wednesday after President Donald Trump announced that he would be ‘immediately taking steps to ban large institutional investors from buying more single-family homes,’ and will be calling on Congress ‘to codify it.
“For a very long time, buying and owning a home was considered the pinnacle of the American Dream. It was the reward for working hard, and doing the right thing,” Trump posted on Truth Social. “but now, because of the Record High Inflation caused by Joe Biden and the Democrats in Congress, that American Dream is increasingly out of reach for far too many people, especially younger Americans.”
Shares of Blackstone, widely considered the nation’s largest landlord, were off to the tune of 10% on the news.
Developing, stay tuned for more…
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