Katrina Campins: How America Could Become More Of A Renter Nation In The Next Few Years

Host of “Mansion Global” on Fox Business Katrina Campins joins Fox Across America With guest host Paul Gleiser to explain how the real estate market has changed over the past few years due to high inflation and a struggling U.S. economy.

“Home builders started building during the pandemic because there was a big demand for single family homes. And prior to the pandemic, they were not very bullish about building. No one really thought the millennials were going to enter the market the way they did. And then during the pandemic, home ownership became that much more important because people wanted a better quality of life. And so builders started to build again. But then what happened? Interest rates started increasing. And so now there’s a lot in the pipeline and buyers can’t afford it the way that they could, let’s say a year ago. So builders are now selling those properties to hedge funds, to Wall Street. And Wall Street is internally then putting them on the market and renting them to these same home buyers that would have purchased them. And I think that as this continues, for the next few years, I think we’re going to begin to see a higher percentage of single family homes being owned by Wall Street, which is not good for the American people, because the American people have really obtained most of their wealth through home ownership. We’re also then becoming more of a renter nation. And that affects stability. It affects children, you know, growing up without a sense of community.”

Listen to the podcast to hear what else she had to say!