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Donald Trump Comments on the housing market send residential rental stocks plummeting while real estate stocks rise
Shares of rental housing companies Invitation Homes and AMH fell after U.S. President Donald Trump expressed his desire to ban large investors from purchasing single-family homes.The two largest single-family rental companies in the U.S. and their smaller competitors emerged in the wake of the 2008 subprime mortgage crisis, when real estate giants snapped up foreclosed properties in large numbers. Shares of major home sellers rose in response: Zillow rose 4.5% to $69.58;Compass rose 14% to $12.32; Remax rose 1.3% to $7.83; Rocket Companies rose 2.2% to $21.67; and Anywhere Real Estate rose 22% to $17.64.
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