In a rare moment of bipartisan overlap, U.S. Rep. Gabe Vasquez, D-N.M., and President Donald Trump have both advanced similar proposals aimed at curbing Wall Street’s role in the single-family housing market.
On Jan. 20, Trump issued his executive order, “Stopping Wall Street from Competing with Main Street Homebuyers.” One week later, Vasquez announced his co-sponsorship of the Bipartisan Families First Housing Act and the Stop Wall Street Landlords Act, citing the order and echoing its language.
The alignment highlights a shared focus on limiting large institutional investors and prioritizing individual homebuyers. Vasquez’s legislation mirrors the executive order’s directive to give owner-occupants an advantage over corporate entities in the purchase of residential properties.
The proposed bills would establish a 180-day “first look” period, allowing families and nonprofits the initial opportunity to purchase homes tied to federal programs before investors are permitted to bid. Trump’s order similarly instructs federal agencies to implement first-look policies designed to shield prospective homeowners from competition with private equity firms.
For New Mexico, Vasquez said the effects of institutional ownership are particularly pronounced. He pointed to out-of-state investors driving up prices and limiting access for local buyers, a practice the proposed legislation and executive action aim to curb by ensuring families and community organizations have a meaningful chance to compete.