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Trump's Wall Street home-buying ban won't fix housing shortage, exec says [Yahoo! Finance]

Toll Brothers, Inc. (TOL) 
Last toll brothers, inc. earnings: 2/25 04:30 pm Check Earnings Report
US:NYSE Investor Relations: tollbrothers.com/investor-relations
Company Research Source: Yahoo! Finance
“The notion that we are crowding out the individual homebuyer, I think, is an old view,” Stephen Scherr, president of investment firm Pretium, said in an interview. Trump's announcement that he hopes to ban institutional investors from owning single-family homes is the president's latest acknowledgment of an affordability gap he's previously shrugged off or blamed on Democrats. His administration is also buying housing bonds and floated the idea of a 50-year mortgage in an effort to bring down the cost of homeownership. “A third of Americans are renters, either by choice or because they belong to the roughly half of Americans who wouldn't qualify for a mortgage,” Scherr, a former Goldman Sachs CFO, said. That figure is about 90% for Pretium's renters, who otherwise look like the population at large — mostly millennials and Gen X, roughly 40% married, and with incomes actually a fair bit higher than the average. Corporate landlords and investment firms own less than 5% of the na Show less Read more
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