When Rep. Mary Miller saw President Donald Trump’s announcement of plans to ban large investors from buying single-family homes, she immediately volunteered to introduce a bill to codify it, she said.
“It’s been an issue that the Family Caucus has been discussing, and I’m thrilled to see President Trump’s tweet and that he’s making this a priority,” Miller, a Republican from Illinois who chairs the Congressional Family Caucus, told The Daily Signal.
Miller expects Trump to sign an executive order banning large investors from buying single-family homes, and then her bill will codify that policy into law.
The mother of seven said she is working on the bill text with the White House. Sen. Josh Hawley, R-Mo., said he will introduce a similar bill in the Senate.
Trump posted Wednesday on TruthSocial saying that he is “taking steps to ban large institutional investors from buying more single-family homes, and I 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,” he said. “It was the reward for working hard, and doing the right thing, 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.”
“People live in homes, not corporations,” the president continued.
Trump said he would discuss the topic at his speech at the World Economic Forum in Davos in two weeks.
“Tune into the President’s upcoming Davos speech where he will detail his plans to restore the dream of American home ownership,” White House spokesman Davis Ingle told The Daily Signal.
The timeline of Miller’s bill “depends on what President Trump does,” the congresswoman said.
“We’re working with him and obviously Sen. Hawley also, so we’re very excited,” she said. “Stay tuned, great things are ahead in the housing market.”
The housing reform move could become a cornerstone of Republicans’ affordability agenda. The initiative will be “huge for the midterm elections,” Miller said, because people will “have more money in their pockets” due to finding affordable housing.
“I have a big family and young children, and the ones that haven’t purchased a home are concerned, ‘How can we afford a home?’” she said. “I think this is huge, and by allowing these large institutional investors to buy up these single family homes in bulk, they’re turning our neighborhoods into corporate assets instead of communities.”
Miller described the president as “a great advocate for American families.”
“President Trump’s doing other things to lower the price of housing,” she said. “He’s really been advocating for lower interest rates. And we’re looking forward to that getting ratcheted down a little bit.”
“Deregulation is going to be huge because the cost of a home is definitely impacted by excessive regulation.”
“I think the key thing is deportation of illegals,” she continued. “To have tens of millions of illegals come in here and take up our housing is extraordinary in light of the impact it has on making allowing housing to be accessible to American people.”
