'They Can Outbid Your Children': RFK Jr. Warns That Corporations Are 'Trying To Buy Every Single-Family Home' In America — And They Are On Track To Own 60% Of Homes By 2030


Start generating passive income through real estate

Check out these featured investments from Benzinga's Real Estate Offerings Screener.


Start generating passive income through real estate.

Own a piece of your favorite cities through diversified real estate investments in the country's top markets

*Terms and conditions apply. Visit Nada's website for more details.

Housing affordability has been a pressing issue in America. While many people point to supply shortages, rising material costs and stagnant wages as drivers behind the crisis, Democratic presidential candidate Robert F. Kennedy Jr. believes there's another culprit — corporations.

"The real reason that housing has outpaced anything else is because there are three giant corporations: BlackRock, Vanguard and State Street," Kennedy said at a recent event in Los Angeles.

He said that these three companies already own 88% of the S&P 500, and now they are coming after single-family homes in America.

This makes things a lot more challenging for people trying to buy a home.

🏡 Tired of corporate giants dominating the real estate market? You're not alone. But there's a way you can level the playing field and invest in real estate with as little as $100. Introducing Arrived, the smart choice for retail investors!

🌟 With Arrived, you can join the movement to make real estate accessible to all. Say goodbye to sky-high down payments and frustrating bidding wars. The Jeff Bezos-backed platform lets you buy shares of single-family rentals, earning you passive income from rental revenue and long-term appreciation.

🏠 Don't let corporations control the housing market. Take action today and start your journey with Arrived. Invest in your future. Your path to affordable real estate begins here!

Click here to start investing now.

 "We all hear these stories of somebody, a friend or ourselves who tried to buy a home, was about to put the money down, sign the contract, go into escrow, and at the last minute, somebody comes in with a cash offer and takes it off the table. And you're saying who is this with the cash offer? And so you look into it and it's an LLC with an ambiguous name. And if you pull the strings and follow the breadcrumbs that leads you to BlackRock, State Street and Vanguard," Kennedy said.

Corporations can secure financing for real estate at costs 30% less than the richest people in the country, Kennedy said. This gives them a significant advantage over typical American homebuyers.

"So they can outbid you, and they can outbid your children. Our families are now competing against these companies, which are trying to buy every single-family home," he said.

Will Corporations Become ‘Everybody's Landlord'?

In a video posted on X, formerly Twitter, earlier this month, Kennedy projected that by 2030, giant corporations are on track to own 60% of single-family homes in America. 

"So BlackRock wants to be everybody's landlord and everybody's neighbor, but I'm not going to let that happen," he said.

Should he be elected president, Kennedy said he would introduce a federal program that backs mortgages at 3%, financed by tax-free bonds. The mortgages would be available exclusively to individuals, excluding corporations.

"This will drop mortgage payments by more than $1,000 a month for a medium-priced home and allow your children to out-compete BlackRock in the market," he said.

Kennedy added that he would also change the tax code to discourage corporations from owning single-family homes.

Annual Income Needed For A Median-Priced US Home

The Federal Reserve has implemented significant interest rate hikes over the past year and a half to combat rampant inflation. While high interest rates can cool the housing market, they also lead to bigger mortgage payments.

According to The State of the Nation's Housing 2023 report from Harvard University's Joint Center for Housing Studies, the annual income needed to afford payments on a median-priced home in the U.S. is now $117,100, up nearly $20,000 from last year.

And that means millions of households are now priced out of the market.

"The number of renter households able to afford these higher payments shrunk by 32%, from 7.5 million to 5.1 million, a loss of 2.4 million potential homebuyers," the Harvard researchers said.

Ready to break free from the grip of soaring housing costs? Arrived is your key to financial freedom! 🚀

🏡 Join the Arrived community and invest in real estate without the burdens of traditional homeownership. As corporations aim to own 60% of single-family homes by 2030, you can be part of the solution by investing in Arrived’s properties.

🌟 With Arrived, you'll enjoy the benefits of passive income and long-term appreciation, all while helping to democratize the real estate market. Say goodbye to unaffordable mortgages and hello to financial security.

💪 Stand up against the housing crisis. Secure your future with Arrived today.

Invest in Real Estate the Smart Way – Join Arrived.

Original story found here.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Real EstateHousingMixireal estate investingRFK Jr
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!