RFK Jr. Sounds Alarm: Corporations May Control 60% of U.S. Homes by 2030.

In a recent stirring address, Democratic presidential candidate Robert F. Kennedy Jr. raised concerns about the future of American homeownership, suggesting that giant corporations are positioning themselves to dominate the single-family housing market. Kennedy claims that BlackRock, Vanguard, and State Street—three financial behemoths that already control a staggering 88% of the S&P 500—are now targeting single-family homes. According to Kennedy, these companies are leveraging their financial muscle to outbid average homebuyers, including families trying to purchase their first homes.

Kennedy painted a vivid picture of the current housing struggle, recounting tales of prospective buyers who, despite having their finances in order and offers ready, lose out on homes to cash-rich LLCs linked to these corporate giants. These firms, he explained, can secure real estate financing at rates 30% lower than even the wealthiest individuals, giving them a substantial edge over typical homebuyers.

Looking ahead, Kennedy projected that if current trends continue, corporations could own up to 60% of single-family homes in the U.S. by 2030. He described this potential future as dystopian, where BlackRock and its counterparts become not just investors but "everybody’s landlord." In response, Kennedy proposed a bold plan: a federal program that would offer 3% mortgage rates exclusively to individuals, not corporations, funded by tax-free bonds. This initiative, he argued, could reduce mortgage payments significantly and level the playing field for American families.

Kennedy also pledged to reform the tax code to dissuade corporations from snapping up single-family homes, aiming to protect the American dream of homeownership for future generations. With housing affordability already stretched thin—reflected in the rising income needed to buy a median-priced home, now at $117,100 annually—Kennedy's proposal seeks to address a growing crisis exacerbated by soaring interest rates and dwindling affordable options.

As the debate over housing affordability intensifies, Kennedy's warnings and proposed solutions underscore the broader challenges facing American homebuyers. His message is clear: without intervention, the dream of homeownership could become increasingly elusive for the average American family.