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.
“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.
https://finance.yahoo.com/news/outbid-children-rfk-jr-warns-164021972.html