LANSING, Mich. — President Donald Trump announced plans to help aspiring homeowners in 2026 by banning large corporate investors from owning single-family homes. The proposal aims to make it easier for younger families to buy their first home, though its impact on Mid-Michigan may be limited.
- A plan announced by the president Wednesday aims to ban large corporate investors from buying single-family homes.
- A local real estate agent says the move could help, but that it needs to be enforced in case of a 'work around'.
- Trump expects to announce more details at the World Economic Forum in Davos, Switzerland later this month.
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"It would absolutely help," said Frank McGillis, a local real estate agent who has sold more than 400 homes in his career.
Housing affordability remains a key issue for neighbors, and Trump says he wants to stop corporate giants from buying single-family homes. However, the extent of this issue's impact on Mid-Michigan appears minimal compared to larger markets.
McGillis is off to a great start in 2026 after a strong 2025, with two accepted offers already under his belt. Out of the 54 closings he had last year, 48 were referral-based he says.
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The experienced agent says he doesn't run into housing giants like BlackRock or Invitation Homes in the local market.
"I have heard of these big corporations. Grand Rapids market. Outskirts of Detroit, Brighton, Howell, Novi," McGillis said. "But thankfully they're not here yet."
On Wednesday, Trump announced plans to ban such large institutional investors from buying homes, arguing it would benefit first-time home buyers.
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"It would absolutely help especially in those larger areas where it's already hurting the inventory," McGillis said.
Experts say big corporate buyers represent about 1% of all single-family homes nationwide, and the number in Lansing is even fewer.
McGillis says the bigger issue is lack of inventory, not Wall Street competition.
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"If we also had them to contend with we would even have less inventory than we have now and like I said it's kind of like a bare bones market out there right now," he said.
The president's proposed ban remains an idea for now. If it does happen, McGillis says there needs to be enforcement that financially hits investors.
"You've got to hit them in the pocket book… If these companies are allowed to gobble up properties it would absolutely affect us in the future," he said.
McGillis says Lansing homebuyers are more likely to face competition from other families or smaller investors.
However, McGillis warns that could change if markets heat up and big investors begin looking at Michigan.
Trump plans to give more details on his housing proposal at the World Economic Forum in Switzerland later this month.
This story was reported on-air by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.
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