The rise of short-term rentals, institutional landlords, and iBuyers has disrupted the housing industry in recent years, creating a brutally competitive market that is putting homeownership out of reach for many Americans. While the homeownership rate remains stable, the trend shows competition is increasing, leading to concerns that the US is losing its identity as a nation of homeowners. Historically, investment in housing took place on a hyperlocal level, but new building and financing regulations over the past few decades have made way for bigger institutions, including Wall Street and venture-capital backed companies, to invest heavily in housing. AMH and Invitation Homes are among the major players in the single-family rental sector that now own hundreds of thousands of homes across the US, while Opendoor is the biggest player in the tech-enabled home-flipping market. Meanwhile, short-term rental platforms like Airbnb and Vrbo have seen explosive growth in recent years, enabled by advancements in technology and relying on venture capital and Wall Street- propelled platforms. Demand for short-term rentals has been rising, and in some cities, like Phoenix, it’s experiencing a huge boom. To prevent housing from slipping out of reach for everyday Americans, there is a need for a proactive approach, including new rules to regulate the industry.