President Trump’s executive order targeting institutional homebuyers represents more of a procedural roadmap than an immediate policy disruption, according to Peter Zabierek, a senior portfolio manager at Easterly Ranger, who specializes in REITs.
While markets initially reacted negatively to the announcement, Zabierek says investors have since taken a measured view as they await specific implementation details.
“I’d characterize the executive order as more a process roadmap than a policy shock,” Zabierek says. “The real impact depends less on the signing ceremony and more how the specifics of how definitions, carve-outs and enforcement actually get written over the next 30 to 60 days.”
The order has raised questions about major institutional players such as Blackstone and their role in the housing market. However, Zabierek notes that large institutional investors represent only a small share of the market — about 3 percent of single-family rentals
