A Boring Dystopia

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Homelessness rose sharply in the U.S. in 2023, data shows (youtu.be)

submitted 11 months ago by return2ozma@lemmy.world to c/aboringdystopia@lemmy.world

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[–] Wutangforemer@lemmy.world 2 points 11 months ago (1 children)

15 percent of the market is big enough to matter. https://slate.com/business/2021/06/blackrock-invitation-houses-investment-firms-real-estate.html

[–] Fleamo@lemmy.world 0 points 11 months ago* (last edited 11 months ago) (1 children)

Corporations bought 15% of homes sold in that quarter, they don't own 15% of the homes. The total owned is much less, I think it's 2% combined. But regardless, that does not impact HOUSING, it impacts home buying. Separate issue.

If 100 people need somewhere to live, and there are 98 houses, 2 people will not have housing. Now imagine a corporation buys 10 houses and rents them out to 10 of the people. Still exactly 2 people without housing. I care more about helping the people who do not have places to live.

[–] Wutangforemer@lemmy.world 1 points 11 months ago

It is more than you think.

According to data reported by the PEW Trust and originally gathered by CoreLogic, as of 2022, investment companies own about one fourth of all single-family homes. Last year, investor purchases accounted for 22% of American homes sold.

https://www.billtrack50.com/blog/investment-firms-and-home-buying/#:~:text=According%20to%20data%20reported%20by,%2D2021%2C%20why%20is%20this%3F