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Institutional investors like Blackrock started buying up massive amounts of the real estate market since COVID. And those homes haven't made their way back to the market. This, in turn, is now making it even harder for younger Americans to get into the real estate market.
Real estate expert Katrina Campins told Fox Business, "They bought so much housing, they were competing with first-time buyers. They bought those homes and turned them into renters." She thinks it was unfair to those first-time buyers, who don't have the resources to compete on the market with massive investors like Blackrock.
Campins also says this could lead to it being more difficult for younger Americans to build up generational wealth. For years, homeownership has been the primary vehicle to achieving that wealth growth, and now, older Americans are the only ones who own homes.