Proclamation

BY THE PRESIDENT OF THE UNITED STATES OF AMERICA

A PROCLAMATION

During National Homeownership Month, my Administration recommits to making housing more affordable so that young Americans and hardworking families can raise children, build memories, and create a future in a home of their own.

For too long, reckless spending, burdensome regulations, and failed housing policies drove up home prices and mortgage rates while mass illegal immigration and large institutional investors strained the housing supply. The result was a housing affordability crisis brought on by the failed leadership of the previous administration. Now, under my leadership, my Administration is fixing the mess we inherited and restoring the American Dream of homeownership.

From the first day I returned to office, I proudly signed an Executive Order to deliver price relief to Americans crushed by the left-wing cost-of-living crisis — launching a bold new era of progress on supply, affordability, and opportunity for every hardworking family across our country. My Administration is working to restore integrity to Federal housing programs by ensuring taxpayer-sponsored loans once again reach the law‑abiding citizens who truly need them, not illegal aliens and fraudsters who rob Americans of more affordable housing options. I have also directed Fannie Mae and Freddie Mac to purchase $200 billion in mortgage-backed securities to further drive down borrowing costs so that more of our citizens can achieve homeownership.

Earlier this year, I took unprecedented action to ban large institutional investors from purchasing single-family homes, keeping more houses available for American families, not corporations. Through the Stopping Wall Street from Competing with Main Street Homebuyers Executive Order, we put prospective homebuyers back at the front of the line, directing Federal agencies to block big corporations from using Government-backed resources to outbid responsible homebuyers and unleashing the full power of antitrust enforcement to stop corporate giants from manipulating rents and pricing families out of their own neighborhoods. I call on the Congress to make these reforms permanent and pass the bipartisan 21st Century ROAD to Housing Act — the most comprehensive and consequential housing legislation in the history of our country.

The victories we have achieved for American homeowners and homebuyers are unprecedented, and my Administration will never stop fighting to protect and expand them. Under my leadership, America will be a Nation where homes belong to families — not corporations — and we will never rest until the full promise and prosperity of this great Nation is felt by every hardworking citizen in a home they can proudly call their own.