Treasury Secretary Scott Bessent appears to believe the average American retiree owns around a dozen homes.
MAGA Fox Business host Maria Bartiromo, who was moderating at the 2026 World Economic Forum with Bessent in Davos, Switzerland, asked him to elaborate on President Donald Trump saying his administration would ban “large institutional investors” from purchasing single-family homes.
As Bessent explained that it was the Trump administration’s view that it is a “good idea” to get institutional investors out of the single-family home market, he made the out-of-touch claim that most retirees own more than a dozen homes.
“We are going to give guidance at some point to see what is a mom and pop is,” Bessent said. “Someone, maybe your parents for their retirement, have bought 5, 10, 12 homes.”
“So we don’t want to push the mom and pops out, we just want to push everybody else out,” he continued.
Bartiromo appeared to nod in agreement at Bessent’s remarks on retirees buying at least five homes.
California Gov. Gavin Newsom, who was in attendance at the event and seen scoffing throughout Bessent’s speech, slammed the Treasury secretary’s claim.
“Scott, people are trying to buy 1 house—to live in,” Newsom posted. “Could the Trump Admin be any more out of touch?”
“Good news for the forgotten man. The mom and pop real estate investor who has purchased 12 homes can breathe easy, the Treasury Secretary is looking out for you,” Tim Miller, host of the anti-Trump The Bulwark Podcast, said in a sarcastic post on X.
Other social media users were quick to hit back at Bessent’s comments.
“Gibberish from a wealthy baboon,” one user said.
“Mom and Pops that buy 12 homes? Is it just me, or does her [sic] sound like the villain in a Disney movie—cruel and out of touch with reality,” one user quipped.
“One doll for your kid, 12 homes for boomers,” another user said.
Bessent, a multi-millionaire who once described himself as a humble “soybean farmer,” has bought and sold several luxury properties, each worth millions of dollars, over the years.
In reality, around 65 percent of Americans own their homes, and around 4 percent of the housing market consists of second homes.
Last year, around 53 percent of American renters said they believed that “owning a home will never be financially affordable,” a 2025 survey from Northwestern Mutual found.
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