The American Dream Is Dead—And Your Landlord Killed It.

An Editorial Piece by Kellie Russo

Owning a home used to be the cornerstone of the American Dream.

Now, it's a punchline told at open houses with $1 million price tags for 900 sq ft tear-downs.

In cities like Los Angeles, median home prices have soared past $900,000, while wages have barely kept pace with inflation.

Nationally, the average rent for a one-bedroom apartment now sits at $1,770/month, according to Zumper. And guess who’s buying up the rest of the housing supply?

Institutional landlords. Hedge funds. LLCs.

Not families. Not first-time buyers.

Just BlackRock, buying 50 homes at a time.

Let’s be clear:

Your landlord isn’t just some mom-and-pop investor trying to make passive income. Many are playing Monopoly with your zip code.

In 2021, investors bought one in seven homes in America. In some areas, it was as high as 30%.

They’re not just collecting rent—they’re controlling the market. They raise rents because they can. They outbid young families in cash. They lobby against zoning reform, rent control, and tenant protections.

And they’ll tell you, “It’s just business.”

But if housing is a human right, why are we letting it be treated like a stock option?

Here’s my unpopular take:

Landlords should be regulated like utilities. You can’t just charge $1,200 for a shoebox and call it a day. If water and electricity are considered essential, why not shelter?

Will this piss people off?

Absolutely.

But we cannot fix the housing crisis with more luxury condos and investor-friendly tax breaks.

We need radical ideas.

We need public housing that doesn’t feel like punishment. We need to make it easier to build, buy, and stay in a home.

There’s still hope.

More people are waking up. Cities like Minneapolis and Portland are eliminating single-family zoning. California is legalizing ADUs and pushing SB9 lot splits.

Tenants are organizing. Laws are being challenged.

The system is broken. But it’s not beyond repair.

And maybe—just maybe—the American Dream doesn’t have to die. It just needs a new architect.

-- Kellie Russo