Overview
- Opendoor jumped about 12% in after-hours trading and Offerpad soared roughly 50% following the mortgage-bond proposal.
- The rebound followed a roughly 10% drop that left Opendoor at $6.12 after Trump proposed banning large institutional buyers of single-family homes.
- Opendoor CEO Kaz Nejatian backed the ban and emphasized the company is a resale platform that does not hold homes long term.
- Opendoor’s head of homebuilder partnerships said the ban targets landlords with 100 or more properties and would leave consumer platforms broadly unaffected.
- Analysts questioned whether such bond buying would lower mortgage rates, and Trump signaled he will push Congress and discuss further housing steps at Davos.