Kansas
In reply to the discussion: A Kansas city voted unanimously to ban co-living rentals, effectively making roommates illegal in so [View all]Phoenix61
(17,721 posts)Investors bought a record share of homes in 2021. See where.
An analysis of 40 major metro areas revealed unequal levels of investor activity, with southern cities and Black neighborhoods disproportionately affected
Those purchases come at a time when would-be buyers across the country are seeing wildly escalating prices, raising the question of what impact investors are having on prices for everyone else. Investors were even more aggressive in the final three months of the year, buying 15 percent of all homes that sold in the 40 markets.
https://www.washingtonpost.com/business/interactive/2022/housing-market-investors/
Wall Street is buying up family homes. The rent checks are too juicy to ignore
The coronavirus pandemic gave institutional investors all the proof they needed that single-family rentals could survive a severe economic downturn.
Real estate analytics firm Green Street estimates that single-family rental values in the United States are 15% above their pre-Covid level. Renting out single-family homes is expected to deliver annual returns for private investors in the next three years of 6.8%, compared with 6.1% for apartments, 6.3% for industrial properties and 6.4% for malls, Green Street said in a July report.
https://amp.cnn.com/cnn/2021/08/02/business/family-homes-wall-street/index.html
Young couples are now competing with more than 200 firms, from tech startups to money managers to rental platforms, to purchase houses priced at record highs. If you want as many regular people as possible to be able to afford a home and build up their wealth the way previous generations have, having investors able to spend tens of thousands of dollars above the asking price and pay in all-cash, all across the market, certainly isnt an encouraging development.
https://www.fatherly.com/news/investors-single-family-home-market-rentals-wealth/amp/