Billionaire investor David Einhorn says younger people are too 'impatient' to build wealth or buy a house
Einhorn said on a recent podcast appearance that younger people are more focused on speculating in the market than building wealth or saving for a home.
Billionaire hedge fund manager David Einhorn, founder of Greenlight Capital, has criticized younger Americans for their lack of patience in building wealth or purchasing a home. According to Einhorn, many young people are more focused on speculative investments like crypto, stocks, and sports betting, rather than saving up for a home.
He believes their impatience and lack of investment discipline are holding them back from entering the housing market. Despite this, Einhorn emphasizes that homeownership remains a sound long-term financial decision, citing the potential for home equity appreciation and the fact that a house often serves as a savings vehicle. Homeownership rates among younger generations have declined, with 38% of Gen Zers aged 28 owning a home, compared to 42% of Gen Xers and 44% of baby boomers at that age.
Similarly, only 57% of millennials aged 36 owned a home last year, compared to 61% of Gen Xers and 63% of boomers. This trend has been driven by factors such as high mortgage rates, near-record home prices, and a sluggish job market for entry-level workers. A JPMorgan Chase Institute report from 2025 found that retail investing has surged among younger Americans, with 37% of 25-year-olds adding funds to a retail investment account, six times more than a decade ago.
Home prices have appreciated more slowly than stock prices in recent years, potentially pushing younger Americans toward investing instead of saving for a home.
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