Blackstone, Housing Stocks Slip as Trump Targets Big Investors

Shares of Blackstone Inc. and other housing-related companies tumbled Wednesday after President Donald Trump said he would move to ban institutional investors from buying single-family homes.

Blackstone fell by as much as 9.3%, trimming some losses to close down almost 6%, after Trump said he was “immediately taking steps to ban large institutional investors from buying more single-family homes” in a push toward promoting housing affordability.

Blackstone is a major investor in residential real estate. In 2021, it bought Home Partners of America in a $6 billion deal that added 17,000 rentals to its holdings. More recently, it bought Toronto-based ...