{"id":169691,"date":"2024-03-25T11:50:33","date_gmt":"2024-03-25T17:50:33","guid":{"rendered":"https:\/\/www.biggerpockets.com\/blog\/?p=169691"},"modified":"2024-03-25T11:50:37","modified_gmt":"2024-03-25T17:50:37","slug":"wall-street-is-not-buying-up-main-street","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/wall-street-is-not-buying-up-main-street","title":{"rendered":"No, Wall Street Is Not Buying Up Main Street\u2014Here’s Why It’s All a Myth"},"content":{"rendered":"\n

Wall Street is not exactly the easiest group of institutions to defend, in large part because they most certainly do merit an enormous amount of criticism for many of the financial shenanigans they engaged in that <\/span>helped contribute to the 2008 Financial Crisis<\/span><\/a>, such as being bailed out by taxpayers only to <\/span>give out exorbitant bonuses to their executives<\/span><\/a> before needing to be <\/span>bailed out again<\/span><\/a> when COVID struck. And that doesn\u2019t mention the variety of illegal and dubiously legal schemes <\/span>they\u2019ve engaged in over the years<\/span><\/a>.<\/span><\/p>\n\n\n\n

But of late, an almost bipartisan chorus has emerged amongst critics of high finance: Wall Street is buying up houses across the country to drive up prices and making homeownership unaffordable for most Americans.<\/span><\/p>\n\n\n\n

Senator Elizabeth Warren, like many Democrats, <\/span>accuses<\/span><\/a> Wall Street of \u201choovering up a significant chunk of the housing market.\u201d<\/span><\/p>\n\n\n

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Since the Great Recession, institutional investors have bought up hundreds of thousands of single-family homes, hoovering up a significant chunk of the housing supply and hiking rents by double digit margins. It's time to loosen Wall Street's grip on the housing market.<\/p>\n

— Elizabeth Warren (@SenWarren) December 31, 2023<\/a><\/p><\/blockquote>\n