White House proposes banning some investors from buying more homes, WSJ reports

Feb 19 (Reuters) - U.S. President Donald Trump's administration has proposed banning investors with more ‌than 100 single-family homes from purchasing ‌additional homes, the Wall Street Journal reported on Thursday, ​citing a White House memo sent to congressional committee leaders.

The proposal, which the Journal said was sent on Thursday, includes various exemptions from ‌the ban, including ⁠for investors who build or heavily renovate homes for the sole purpose ⁠of renting them out.

Trump administration officials are looking to get the investor ban added to ​a Senate ​housing bill currently being ​negotiated, according to ‌the Journal.

The White House did not immediately respond to a request for comment late on Thursday.

Details of the ban follow an executive order Trump signed in January to restrict large institutional ‌investors from competing with ​individual homebuyers in an effort ​to make ​housing more affordable.

Under pressure to address ‌voter affordability concerns ahead of ​congressional elections ​this year, the Trump administration has implemented a raft of measures, including purchases of ​mortgage-backed securities, ‌to improve housing affordability.

(Reporting by Fabiola Arámburo ​in Mexico City; Editing by Muralikumar ​Anantharaman and Kim Coghill)