While most Americans are anxiously watching the housing market show signs of cooling after running red-hot for years, one group may be cheering for a crash.

After the 2008 financial crisis, corporations and institutional investors looked to ramp up their purchases of residential real estate, including single-family rentals (SFRs).

Now analysts worry history may repeat itself. According to a 2022 report from MetLife Investment Management, 4-in-10 single-family rental homes could be owned and controlled by Wall Street within just seven years.

This could pose a problem not just for ordinary renters, but also for the rest of the economy. Here’s a closer look.