Report: Institutional investors specifically targeting Black areas to buy up homes

[dtownreppin214]

I was reading the article in the tweet below and came across this tidbit from the National Association of Realtors recent report on institutional investors and their buying trends -

The homes aren’t always being flipped and sold again. Often, they’re being rented out instead.
Investors are targeting areas with high growth in the number of households, a high share of Black households, high-rental areas, areas with a large concentration of millennials and where housing prices have risen the most, according to the NAR report.

So these corporations are buying up homes in black neighborhoods with cash and turning a majority of the homes into rental properties. We all know this was happening it’s just crazy to see it an official report like this. You can read the report below.

https://cdn.nar.realtor/sites/default/files/documents/2022-impact-of-institutional-buyers-on-home-sales-and-single-family-rentals-05-12-2022.pdf

 

[Dreamchaser]

I doubt they are buying homes because of black people are in the area's, I think they are looking at places that achieve a high cap rate and decent ROI.

 

[NoMoreWhiteWoman2020]

Is this the end result of all those webuyuglyhouses.com billboards in poverty areas ? Those billboards were all around the West End in atlanta and other places

 

[Chrishaune]

I can tell you this is happening for sure in my area. Houses almost doubling in price over the last few years and will go higher.

 

[Uitomy]

I can tell you this is happening for sure in my area. Houses almost doubling in price over the last few years and will go higher.

I don’t think so, it just doesn’t logically make any sense how we’re heading into a bear market with stocks and a recession that could be a Great Depression, while people have less children, take on more debt, and get paid less because of inflation. At some point the investors are going to run out of buyers because every single type of housing only gets made or listed with higher prices. I feel like we are going to see a lot of companies go out of buisness