the foreign companies and individuals buying up property is the biggest factor in rising house prices over the last 10yrs. You take them out of the market and we will see a market correction. Then people will start complaining on how their house is now worth 25% less then what they paid for it. The housing market is a racket that has been corrupted for years and no one really wants to fix it. 20yrs in the mortgage business has taught me this.

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Posted by cadillacattack

the ATL

Member since May 2020

4581 posts

Posted on 4/16/24 at 4:12 pm to hawkeye007

Interesting data:

quote:
Who owns the single-family rental houses in the US:

There are 146 million housing units in the US:
91% (132 million) are occupied 9% (14 million) are vacant.

Of the 14 million vacant housing units:
56% (8 million) are single-family houses, attached and detached. 34% (5 million) are apartments 10% (1 million) are mobile homes, boats, etc.

Of the 132 million occupied housing units: 66% (87 million) are occupied by owners (single-family houses, condos, co-ops, townhouses) 34% (45 million) are owned by landlords and occupied by renters.

Of the 45 million rented housing units: 65% (29 million) are apartments in multifamily buildings. 31% (14 million) are single-family houses, attached and detached. 4% (2 million) are mobile homes, boats, etc.

Of the 14 million single-family rentals (attached and detached houses): 80% (11.2 million houses) are owned by mom-and-pop landlords with 1-9 rentals 14% (1.96 million houses) are owned by landlords with 10-99 units 3% are owned by landlords with 100-999 units 3% (around 400,000 houses) are owned by a handful of huge landlords with 1,000+ units each.

The data for the above comes from John Burns Research & Consulting, based on its aggregation of public records data and Census Bureau data.