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(Fortune)   Avocado toast isn't the reason why subby lives in his mother's basement   (fortune.com) divider line
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2022-06-27 5:07:34 AM  
Investors-including Wall Street-helped to drive up home prices during the Pandemic Housing Boom.

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2022-06-27 6:06:21 AM  
The one key data point is still want to see:  what percentage of investor-purchased  homes were bought from other landlords?  If the majority of these homes were already rental properties, there should be no real effect in the end. Even if some of the homes they purchased weren't rental properties, if other homes that were rental properties go for sale to owner occupiers (typically with a flip in the process), there's still no net change.

Flippers tend to buy houses that are either trashed, or run down from years of tenants and rehabilitate them for sale to owner occupiers.

A dropping rental vacancy rate and slight upward trend in home ownership rate suggest that the supply of rental homes is not increasing.
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I don't have the link handy, but WaPo had a map showing how the institutional buyers were concentrated in minority neighborhoods. They didn't ask the question: is that because institutional buyers are being intentionally racist, or because these neighborhoods already have a concentration of rental homes?  Looking at data from the census on rate of renters by tract, the latter seems to be the case.
 
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