One of the primary issues Robert F. Kennedy, Jr. is calling attention to in his 2024 presidential campaign is housing affordability. He has noted that BlackRock, State Street, and Vanguard already own 88 percent of the S&P 500, and are now focusing their investing on purchasing single-family homes.
In recent interviews, Kennedy has stated that potential first-time home buyers are competing against corporations to acquire mortgages, specifically mentioning BlackRock, State Street, and Vanguard, who are able to secure financing for real estate at costs 30 percent less than the richest people in the country, oftentimes out-bidding Americans using an ambiguous LLC making cash offers on single-family homes.
Kennedy warns, “So BlackRock wants to be everybody’s landlord and everybody’s neighbor, but I’m not going to let that happen.” His solution is to create a federal program backing mortgages at three percent for first-time home buyers, as well as removing the incentive for corporations to purchase single-family homes.
