44% of flipped single-family home purchases were by private investors in 2023
Private equity firms have been carving out an increasingly substantial share of single-family home purchases, raising concern about the potential consequences for housing affordability and market competitiveness.
Yes, of course it should be outlawed. Between this and the illegals taking up housing, American citizens are being screwed out of building generational wealth through homeownership. Now you pay so much in rent you can’t save for a down payment to own. And even if you can pay cash for a house, you are competing with the private equity firms who have unlimited cash and can outbid everyone. It’s not a fair playing field.
It isn't even the cost of the house, it's the rapid inflation causing the cost of plumbing, electrical, roofing, INSURANCE, etc that makes it impossible to hold on long term.