U.S. Representative Ro Khanna speaks during a press conference at the U.S. Capitol in Washington, DC, November 18, 2025.
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California Democratic Rep. Ro Khanna on Friday reintroduced a bill that would prevent institutional investors from buying up housing, echoing a similar call recently made by President Donald Trump.
Trump said in a Truth Social post on Jan. 7 that he would “immediately take steps to ban large institutional investors from purchasing more single-family homes.”
Trump’s remark was among a series of populist economic moves by the president as he seeks to address voters’ concerns about affordability ahead of the 2026 midterm elections.
A recent Marist poll found that only 36% of Americans approved of Trump’s handling of the economy, while 57% disapproved. That’s a significant headwind for Trump’s fellow Republicans in Congress, who are trying to maintain their razor-thin majorities in the House and Senate.
In a statement to CNBC, Khanna cited Trump’s recent support for preventing institutional investors from buying up real estate.
“If President Trump is serious about taking on Wall Street landlords, Congress should pass my bill and sign it into law,” Khanna said. “Homes should be owned by people, not wealthy landowners who buy up single-family homes and put the dream of homeownership out of reach for too many Americans.”
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Although the bill was not immediately available, Khanna’s office told CNBC that the Stop Wall Street Landlords Act would prohibit large institutional investors from taking advantage of home-related tax breaks, including mortgage interest, insurance and depreciation.
The bill would also require federally-sponsored agencies such as Fannie Mae and Freddie Mac to prohibit large institutional investors from purchasing single-family home mortgages. Large institutional investors who sell single-family homes more than 18 months after the bill takes effect would be subject to a real estate transfer tax equal to 100% of the home’s sales value.
Previous versions of the bill, including one introduced in late 2024, defined a large institutional investor as a person or firm with assets of more than $100 million.
Khanna has 13 co-sponsors of the bill so far, all Democrats. But it’s possible that Trump’s call for an end to big investors in the single-family housing market could prompt some Republican members of the House of Representatives to join Khanna’s efforts.
In an interview with CNBC, Khanna said he was willing to work with Trump on legislation “if it actually helps the working class.”
“When he calls me, I help run the bill,” Khanna said.
Trump will speak at the World Economic Forum in Davos on Wednesday, where the president said he would address his housing proposal.
“I will discuss this issue, including further proposals on housing and affordability and more, at my speech in Davos,” Trump said on Truth Social.