Opendoor CEO Kaz Nejatian publicly supported President Trump’s proposal to prohibit institutional investors from purchasing single-family homes.
Nejatian clarified that Opendoor's business model facilitates home sales for families. He stressed the company does not hold properties as long-term investments, stating, "Homes are for families."
President Trump announced the proposal on Truth Social. He cited inflation as the reason Americans, particularly younger ones, struggle to afford homes.
Following the president's statement and the CEO's response, the proposal led to a downturn across real estate stocks. Opendoor's shares experienced a significant 10% decline.