Billionaire investor David Einhorn says younger people are too 'impatient' to build wealth or buy a house

David Einhorn is the billionaire founder of Greenlight Capital.

Bloomberg/Getty Images Hedge fund investor David Einhorn says many young Americans lack the patience to build wealth or save for a house The investor says young people are putting more focused on putting money into speculative investments.

Younger Americans are falling behind in homeownership, a trend that's emerged amid the housing slowdown.

David Einhorn says younger generations' own habits are holding them back from breaking into the housing market or building wealth.

The billionaire founder of Greenlight Capital recently speculated about the reasons younger Americans are falling behind in homeownership .

The main reason, in Einhorn's view, is that many young people lack the patience and investment discipline needed to save up for a home, and are funneling their wealth into speculative assets or sports betting.

"I sense the younger generation is just more impatient.

They'd rather, you know, speculate in crypto or speculate in stocks or speculate on sporting events and try to build wealth by guessing those things correctly," Einhorn said, speaking in a recent episode of Morgan Stanley's "Break the Playbook" series.

"And some of them will have some success with that, and others will have less success," he added.

Einhorn said younger people are exhibiting a shift in "philosophy," with many wondering why they should front the extra cash to build equity in a home when renting can be cheaper than owning a mortgage .

But owning a home still makes sense from a long-term financial perspective, he said, pointing to the potential for home equity appreciation and how a house often serves as a "savings vehicle." " Buying a house and paying off your mortgage over 30 years, you know, that requires long-term patience and discipline, and that might be in short supply," Einhorn said.

Younger Americans are less likely to own a home, a trend that has emerged amid a broader slowdown in the housing market driven by high mortgage rates and near-record home prices.

The average 30-year fixed mortgage rate rose to 6.76% last week, up from (function(){function e(){window.addEventListener(`message`,function(e){if(e.data[`datawrapper-height`]!==void 0){var t=document.querySelectorAll(`iframe`);for(var n in e.data[`datawrapper-height`])for(var r=0,i;i=t[r];r++)if(i.contentWindow===e.source){var a=e.data[`datawrapper-height`][n]+`px`;i.style.height=a}}})}e()})(); The job market, another factor that influences homeownership rates, has also been daunting for younger entry-level workers .

In 2025, 38% of Gen Zers aged 28 owned a home, compared with 42% of Gen Xers and 44% of boomers at that age, according to a Redfin analysis.