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The Bob Cesca Podcast: Captain Sunshine

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ckkatz4/01/2022 2:17:07 pm PDT

About rising home prices and low availibility of housing:

Corporate landlords are gobbling up U.S. suburbs. These homeowners are fighting back.

*snip*
Like hundreds of communities across the United States, Hamilton’s neighborhood had become the target of large companies amassing empires of suburban homes for rent. Since the Great Recession, when millions of Americans lost their homes to foreclosure, these companies have been expanding their portfolios of tens of thousands of single-family houses, a disproportionate number of them located in majority-Black neighborhoods like Potters Glen.
*snip*
As investors have targeted the American suburbs, faraway companies have begun to take over entire blocks. Last year, investors bought nearly 1 in 7 homes sold in the nation’s top metropolitan areas — the most in two decades of record-keeping, according to a Washington Post analysis of data from realty company Redfin.
*snip*
In Charlotte and surrounding Mecklenburg County, landlords backed by Wall Street own roughly 11,500 houses — more than 4 percent of single family homes, according to an analysis last year by the University of North Carolina at Charlotte Urban Institute. Most of the houses are in the starter home price range, “likely putting the most pressure on the lower end of the market,” said the institute’s Ely Portillo.

washingtonpost.com