Institutional investors on Wall Street now own 40% of all rental properties in America. And builders are now building more multifamily and rental units than they are single family homes for families, to the tune of 60% rental units and 40% single family homes.

Experts say that the single best way to gain family wealth is by owning real estate, but at this rate, future home owners are being squeezed out. The future is not looking too bright for the young people in America and a scary statistic is showing that 25% of our youth will be what they call “forever renters”. Think of that– 25% of them will never own a home at this rate.

Washington really needs to step in and prevent these institutional investors from taking over the rental housing in America, because they are taking properties out of the hands of first-time home buyers and families.

There is one bill that was introduced in 2022 called H.R.9246 – Stop Wall Street Landlords Act of 2022. This bill would prohibit large investors from obtaining certain federal mortgage assistance and denies certain tax and other benefits to large investors. It will also impose an excise tax on the sale or transfer of a single-family home by a large investor equal to the price of such home.

Learn more about this bill here. At Indigo Mortgage, we encourage you to call your representative and encourage them to act on this bill to preserve our young peoples’ ability to purchase a home and own a piece of the American Dream.