Bezos backed company has over $100M in homes despite US housing shortage (opens in new tab)

Unless they are taking them off the market and not renting them, how would this change the amount of available housing?

Shortly before home prices began to surge in 2021, Amazon.com Inc. Founder Jeff Bezos made a bet on a Seattle-based startup that had a mission to make real estate investments more accessible to retail investors. That year, Arrived Homes became the first company to legally sell shares of individual rental properties to nonaccredited investors.

Bezos's investment in the real estate company's seed round appears to have been well-timed since skyrocketing home prices followed by rising mortgage rates have helped send the homeownership rate in the U.S. to its lowest level since 1970.

The billionaire tech entrepreneur is betting on the U.S. becoming a nation of renters.

"Despite housing shortage?" What do these things have to do with each other?

275 homes is nothing, $100M for Bezos is nothing. Are there any billionaires who don't own $100M worth of real estate?