Too much? 17% of California homes are owned by investors

"Investors own roughly one in six of California's single-family residences. That's what my trusty spreadsheet found after reviewing a BatchData report that estimates investor ownership of houses and townhomes nationwide. Investors in this study include everything from giant companies controlling thousands of houses to folks with a small collection of rentals to short-term rental operators to people with a second home."

"According to BatchData, California has 1.3 million of these investor-owned homes. That's the second-highest count among the states, accounting for 8% of the 15.6 million investor-controlled homes nationwide. No. 1 is Texas at 1.4 million, while Florida is No. 3 at 1.1 million. Yes, we're talking about huge housing markets. Still, investor clout cannot be ignored. California investors own 17% of the 7.6 million single-family residences statewide."

"How'd we get here? Housing affordability was once a headache primarily in pricey and largely coastal markets. The Great Recession of 2008-09 temporarily brought relief, but housing's post-bubble recovery only grew the affordability challenge nationwide. It's a truly complex issue and one that many Americans struggle to understand. So, the tale of a "massive housing shortage" was born. If only more houses were built, this wisdom"

Investors own about 1.3 million single-family homes in California, roughly 17% of 7.6 million single-family residences statewide. That represents 8% of 15.6 million investor-controlled single-family homes nationwide, second only to Texas and ahead of Florida. Investor ownership shares vary widely by state, highest in Wyoming (31%), Maine (30%), and Montana (27%), and lowest in Minnesota (9%), Connecticut (10%), and the District of Columbia (11%). Policymakers are considering restrictions on large institutional buyers amid concerns about investor influence on housing availability. Post-2008 recovery and limited new construction contributed to widespread affordability challenges.

Read at The Mercury News