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Morning Brief: Gun Rights Ruling, Minneapolis Erupts & Trump Targets Wall Street Housing

This morning’s developments span constitutional law, a deadly confrontation over immigration enforcement, and a sharp new front in the housing affordability debate — all underscoring how power, policy, and public trust are colliding at once.

Federal Appeals Court Strikes Down California’s Urban Open-Carry Ban

A three-judge panel of the U.S. Court of Appeals for the Ninth Circuit delivered a major blow to California’s gun-control framework, ruling that the state’s ban on open carry in urban counties violates the Second and Fourteenth Amendments.

The decision, issued in Baird v. Bonta, invalidates California’s prohibition on openly carrying firearms in counties with populations exceeding 200,000 — a restriction affecting roughly 95% of the state’s residents. Writing for the majority, Circuit Judge Lawrence VanDyke relied heavily on the Supreme Court’s 2022 Bruen decision, which requires firearm regulations to align with historical tradition.

“There is no record of any law restricting open carry at the Founding,” VanDyke wrote, noting that open carry was the norm throughout much of American history and California’s own past. From statehood in 1850 until the racially charged Mulford Act of 1967, open carry was largely unregulated in the state. Even after that law, unloaded open carry remained legal for decades until the modern urban ban was imposed in 2012.

The ruling orders judgment in favor of the plaintiff, Mark Baird, a law-abiding citizen who challenged the law. While the court upheld California’s licensing framework for rural counties, concurring judges raised concerns that the state may be undermining even those allowances by issuing virtually no permits in practice.

Attorney General Rob Bonta is expected to seek further review, likely through an en banc Ninth Circuit rehearing — a court that has historically reversed Second Amendment victories. For now, the decision represents one of the most significant expansions of California carry rights in decades.

Minneapolis Mayor Explodes After Fatal ICE Shooting

Political tensions boiled over in Minneapolis after Mayor Jacob Frey unleashed an unusually profane rebuke of federal immigration authorities following a fatal ICE shooting during an enforcement operation.

Speaking at a press conference, Frey told ICE agents to “get the f*** out of Minneapolis,” rejecting reports that the officer fired in self-defense after a woman attempted to ram agents with her vehicle. Frey said dismissed DHS’ description as “bulls***,” accusing federal authorities of reckless overreach that led to a woman’s death.

The incident occurred amid a nationwide DHS operation deploying more than 2,000 federal agents to sanctuary jurisdictions, including Minneapolis. DHS Secretary Kristi Noem labeled the shooting an act of “domestic terrorism,” further fueling debate.

Federal officials point to a sharp rise in assaults on ICE officers — 238 reported attacks in 2025 compared to just 19 during the same period in 2024. Critics insist that aggressive raids heighten the risk of panic, miscalculation, and deadly outcomes.

Trump Moves to Block Wall Street From Single-Family Housing

President Donald Trump opened a new front in the economic debate, announcing plans to bar large institutional investors from buying single-family homes — an effort directly targeting private equity and Wall Street landlords.

“For a very long time, buying and owning a home was the pinnacle of the American Dream,” Trump wrote on Truth Social. “But now… that American Dream is increasingly out of reach. People live in homes, not corporations.”

Trump blamed inflation and housing scarcity for pushing ownership beyond the reach of younger Americans and said he is taking immediate steps to block large institutional buyers from purchasing additional single-family homes, while urging Congress to codify the policy.

The announcement rattled markets. Shares of Invitation Homes, the nation’s largest single-family rental operator, dropped 7 percent. Blackstone fell 4 percent, with other major real estate investors also sliding.

Over the past decade, institutional investors have amassed vast portfolios of single-family homes, converting them into rental properties and, critics argue, shrinking supply while driving prices higher. The median existing single-family home price stood at $426,800 in late 2025, near record levels, with 30-year mortgage rates hovering above 6 percent.

Trump has not yet outlined how the ban would be enforced, but said further housing affordability proposals will be unveiled at the World Economic Forum in Davos later this month.

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