"JUANA SUMMERS, HOST: It's been hard to nail down President Trump's message on the high cost of housing. It wasn't too long ago that the president said he wanted to address it, but then last week, he said for existing homeowners, at least..."
"CAITLIN GORBACK: It's like code-breaking and investigative journalism. FOUNTAIN: Yes. Let's make a movie about you guys. GORBACK: Yeah. Who would play me? Not Nicholas Cage, but this does feel like his genre. FOUNTAIN: Gorback found only something, like, 3% of single-family homes and townhomes in the U.S were owned by big investors as of 2022 - very small. GORBACK: Quite small, yes."
An executive order targets large institutional investors that buy up homes. Messages about housing costs have been inconsistent, with protection of existing homeowners' equity emphasized. Large investors represent a small share—around 3%—of single-family homes and townhomes as of 2022, with ownership concentrated in Sunbelt cities such as Atlanta, Charlotte, and Phoenix. Determining ownership required decoding opaque records because many purchases used shell companies. The impact of large investors on housing affordability varies by timing and location; after the financial crisis, many purchased foreclosed homes and converted them into rentals, changing local market dynamics.
Read at www.npr.org
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