who’ve built wealth by buying/owning multiple properties, especially SFHs.

Not that I’d blame anyone for building wealth through real estate, but it is what it is. The huge increase in people doing that over the past several decades (and now sitting on that real estate) is undoubtedly pushing up values and making it hard for young people to enter the market.

Those same folks (property owners) tend to push back hard on any development efforts. And have the power to succeed in doing so. Makes it very hard for young people.