dseag2
Dallas, TX
- Location
- Dallas, TX
Corporations contributing to the housing crisis
- Thread starter dseag2
- Start date
AnnieA
Well-known Member
- Location
- Down South
Reposting from an earlier thread:
Article is from 2018 so the numbers are higher now.
Link:
What Happens When Wall Street Becomes Your Landlord?
Excerpt:
These [Wall Street] companies are among the beneficiaries of the 2008 housing market collapse. In the wake of the financial crisis, Wall Street firms swooped in to neighborhoods to buy up houses, crowding out the families and local landlords who couldn’t compete with their cash payments.
In the decade since the mortgage crisis, the financialization of housing rentals has ballooned. Institutional investors now own a quarter of the country’s single-family rentals, and just nine of these firms are renting out 200,000 houses in 13 states. A large portion of those homes are regionally concentrated, compounding the effects . In Sacramento County, for example, Invitation Homes is the largest private landlord, and owns more property than anyone besides the county itself.
Article is from 2018 so the numbers are higher now.
Link:
What Happens When Wall Street Becomes Your Landlord?
Excerpt:
These [Wall Street] companies are among the beneficiaries of the 2008 housing market collapse. In the wake of the financial crisis, Wall Street firms swooped in to neighborhoods to buy up houses, crowding out the families and local landlords who couldn’t compete with their cash payments.
In the decade since the mortgage crisis, the financialization of housing rentals has ballooned. Institutional investors now own a quarter of the country’s single-family rentals, and just nine of these firms are renting out 200,000 houses in 13 states. A large portion of those homes are regionally concentrated, compounding the effects . In Sacramento County, for example, Invitation Homes is the largest private landlord, and owns more property than anyone besides the county itself.