The shutdowns of 2020 created a perfect storm for the housing market — and supercharged the clash between Wall Street and regular homebuyers.
Given the attention these markets received during the pandemic, it's no wonder that the battle between Wall Street and Main Street became the dominant story of COVID-era homebuying.
Advertisement"If Wall Street was really gobbling up Main Street," Sharga told me, "we would see homeownership rates go down."
Wall Street landlords have also been increasingly selling off homes to regular people, a Business Insider analysis found.
Still circlingWhile average homebuyers have staged a comeback over the past three years, Wall Street isn't ready to jump out of the housing market altogether.
Persons:
homebuyers, That's, Wall, elbowed, Rick Sharga, CJ Patrick Company, they're, who've, Axios, Sharga, CoreLogic, Pretium —, John Voorheis, Voorheis, —, Freddie Mac, James Rodriguez
Organizations:
Rage, Federal Reserve Bank of Philadelphia, Parcl Labs, Labs, National Association of Realtors, Wall Street, Investor, Wall, Tricon, Associates, Investors, Center for Economic Studies, Census
Locations:
Phoenix, Chicago, homebuilders, homeownership, Dallas, Charlotte, North Carolina, Atlanta