If you spend five minutes on social media, you’ll hear people blaming private equity giants like BlackStone and Partners Group for pushing up home prices.

But is that really what’s happening?

Not even close.

Institutional ownership of single-family homes is tiny — less than 3% nationwide.

The real problem started after the 2008 financial crisis.

Homebuilders slammed the brakes on new construction…
…and they never really hit the gas again.

So while demand recovered…
…supply never did.

We’ve been underbuilding for over a decade, and today we face a 4–5 million home shortage with no end in sight.

Do PE firms have some impact? Sure.

But blaming them ignores the real issue:

We don’t have enough homes.

Until that changes, prices will continue to rise — no matter who’s buying them.