Rep. Susie Lee is probing into the influence of out-of-state corporate entities in Nevada's housing market, particularly regarding foreclosure and REO properties. She notes these entities are outbidding local families, contributing to escalating home prices and reduced availability. With as much as 15% of homes owned by corporations and potential national increases to 40% by 2030, Lee seeks detailed information from Pulte about foreclosure sales and tracking methods for corporate participation. The state’s divided government adds complexity to these housing issues, along with federal land use disputes.
Rep. Susie Lee emphasized the growing concern over out-of-state corporate entities acquiring homes in Nevada, contributing to affordability issues and exacerbating the housing shortage.
Studies suggest that corporate ownership of homes could rise to 40% nationwide by 2030, which aligns with Lee's claims regarding Nevada's housing market challenges.
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