JPMorgan Chase & Co. (NYSE:JPM) CEO Jamie Dimon is pushing back on one of President Donald Trump‘s signature housing proposals, and the numbers back him up.
Speaking to CBS News in a Tuesday interview, Dimon dismissed the administration’s proposed ban on institutional investors buying single-family homes as largely meaningless.
“I hate to tell you this, it’s basically irrelevant,” Dimon said. “Only 1% of the homes are owned by what you would call large companies. I don’t think it’s gonna change any calculus.”
Trump has called for a ban on institutional investors buying single-family homes, targeting those who own more than 100 properties. But experts at LPL Financial put institutional ownership at just 0.5–3% of U.S. single-family homes, concentrated in markets like Atlanta, Phoenix, and Charlotte. Blackstone Inc. (NYSE:BX) has previously highlighted the same figures.
The Real Fix, …
This post was originally published here
