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That article is light on the details. The most unbiased data I could find is from July 2023. Searching percent of REIT purchased or owned single-family residences yields countless results from non-credible websites.
https://www.jchs.harvard.edu/blog/8-facts-about-investor-activity-single-family-rental-market
It seems like it’s not the percent of all residences that is causing the constraint, but that REITs are specifically targeting the most affordable homes in metro and suburban areas.
Makes sense, affordable homes so their investment is less, affordable areas so they're low income and will be dependent on your now rented house, and the markets are rigged thanks to those rent price websites so they'll charge like 2x or more of what the mortgage price would have been as those are typical rent prices now...
To steal a George Carlin transition: "and another group of people I'd love to drag into the woods and disembowel with a wooden cooking spoon..."
Fucking wall street... They're the reason I have to quit my job and leave the state my whole family lives in...
Excellent invocation of Carlin. I’m looking into moving as well. What states are you considering?
I don't want to be too far from family so possibly Connecticut, or if I can somehow find something within my state then possibly "upstate" NY but I can't seem to find much here that also has decent work opportunities close by. At the moment I'm stuck on super overpriced long Island so I definitely need to leave.
Westchester here. I feel your pain. Thinking about braving the cold in Buffalo. Rent and cost of living is insane by comparison.