Where Have All the Houses Gone?
Private Equity, Single-Family Rentals, and America’s Neighborhoods
Homeownership is a powerful tool to close the racial and ethnic wealth gap, and this is particularly true for Latinos. Yet there is a large shortage of housing units leading to steep increases in housing prices, which means that fewer working-class families and people of color have access to safe and affordable homes. Furthermore, institutional investors are entering housing markets, compounding the existing housing crisis. They have key advantages over families seeking a home in today’s competitive housing market, putting homeownership at risk for many families. Analysis of the full and prospective impacts of institutional investors on the existing housing supply is needed to understand their implications for housing affordability and equity.
