UPDATE: Treasury Secretary Scott Bessent is facing intense backlash after suggesting during a forum at the 2026 World Economic Forum that middle-class investors, referred to as “mom and pop,” own as many as a dozen homes each. Bessent’s remarks came in response to a question from Fox Business host Maria Bartiromo regarding former President Donald Trump‘s proposal to limit large institutional investors from acquiring single-family homes.
The comments, made earlier today, quickly drew ridicule from various corners, with critics asserting that Bessent is out of touch with the realities faced by everyday Americans. “We don’t want to push the mom and pops out,” Bessent stated, adding that families might buy “five, 10, 12 homes” for retirement. His attempt to support Trump’s proposal was met with disbelief and scorn on social media.
Senator Ruben Gallego (D-AZ) tweeted, “Just your everyday soybean farmer, Scott Bessent explaining that mom and pop save for retirement by buying 12 homes. This man is so out of touch it hurts.” The sentiment was echoed by others, with NFL writer Aaron Schatz questioning, “Whose parents have bought 12 homes?”
Critics highlighted the disconnect between the comments and the average American household. Author and journalist Otto English quipped, “Even King Charles doesn’t have 12 homes,” while animator Craig Roblewsky remarked, “10 or 12 homes? This guy is just a true man of the people.”
Social media users expressed frustration, with Bluesky user Sloan Ashton stating, “This cabinet is filled with billionaires who are incapable of understanding the working poor and middle class.”
The backlash underscores a growing concern regarding the impact of housing policies on average citizens. As the discussion continues, many are left wondering who exactly Bessent believes constitutes a typical middle-class investor.
With the housing market under scrutiny and current policies affecting affordability, Bessent’s comments have sparked a broader conversation about wealth inequality in the U.S. and the disconnect between policymakers and the populace.
As this story develops, observers will be keen to see how the administration responds to this criticism and what implications it may have for future housing policies. Stay tuned for updates as the conversation unfolds.
