Recently, senior US officials announced a new policy targeting large institutional investors—banning these entities from purchasing single-family homes. According to the plan, the measure will be implemented swiftly, aiming to curb institutional capital expansion in the real estate market through legislative means. The logic behind this is simple: homes should be for living, not for speculation as financial assets.

The main purpose of this policy is to address the increasingly severe housing affordability crisis. Large institutions like Blackstone Group have been acquiring thousands of homes since the 2008 financial crisis, controlling supply to drive up rental yields. While this practice is profitable for institutional investors, it puts enormous pressure on ordinary homebuyers and renters.

Following the announcement, the market reacted immediately—Blackstone Group's stock price dropped by 9%. This indicates that investors are well aware that this ban could directly impact the profitability model of institutions in the real estate sector. However, there is still a question mark: will this ban be enforced through an executive order directly, or will it require formal legislative approval from Congress? The outcome of these two paths could be very different.