Middle class people are screwed

In the process of selling my house. I bought it in 2009.

After putting it on the market, we got several cash offers which was surprising - it's a decent house in an okay neighborhood.

Our real estate agent explained to us that big companies are snatching up single family homes for cash like mad. A quick Google search confirmed that single family homes acquisition by corporations is at an all time high.

So these companies, offer cash, expedited closing and waive inspections (they can manage the risk).

Then, they rent these houses out to the same people they outbid and jack up the rent every 6 months.

Home ownership has been the bedrock of the US middle class. This is not sustainable.