Could this smug man be more out of touch? https://t.co/GUqqi5KoNB
— Gavin Newsom (@GavinNewsom) January 20, 2026
Factcheck:
The quote from Treasury Secretary Scott Bessent is accurate, from a Jan. 20, 2026, Davos panel on housing policy. He described “mom and pop” investors (e.g., retirees with 5-12 homes) as worth protecting, while targeting large institutions. Critics like Gov. Newsom call it out of touch, as most Americans struggle to afford one home—U.S. Census data shows only ~10% of households own 2+ properties. Supporters argue it aids small landlords.