DoomsdaysCW<p>This article is from 2022, but I'm sure the problem has gotten way worse! Also, any <a href="https://kolektiva.social/tags/HUD" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>HUD</span></a> studies about this have disappeared off of government websites, and of course, <a href="https://kolektiva.social/tags/VOA" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>VOA</span></a> has had their funding cut!</p><p>Investors Snap Up Affordable Homes, Especially in Black Neighborhoods</p><p>October 15, 2022 6:32 AM<br>By Dora Mekouar </p><p>Excerpt: "The housing situation in Parramore isn’t unique. It’s being repeated in major U.S. cities across the country. More than 13% of all homes sold in 2021 were sold to investors, according to the National Association of Realtors (NAR). First-time homebuyers are 30% of the market right now. In a healthy market, 40% of buyers are first-time homebuyers, NAR says.</p><p>" 'It's been very difficult for homebuyers to find affordable or <a href="https://kolektiva.social/tags/StarterHomes" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>StarterHomes</span></a>. And when they're buying lower cost homes, they're competing with <a href="https://kolektiva.social/tags/investors" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>investors</span></a> who are coming in with cash offers and that's difficult to compete with,' says Anne Ray, a researcher at the Shimberg Center for Housing Studies at the University of Florida.</p><p>"It’s a trend that accelerated during the pandemic, according to NAR.</p><p>" 'We have seen, during the pandemic especially, that investors, whether it's a mom-and-pop investor or an institutional investor, are coming into the marketplace for rental properties,' says Jessica Lautz, NAR’s vice president of demographics and behavioral insights. 'Investors are jumping into the market understanding there's demand for rental properties and this allows them to actually increase rents and to have this as an investment property that can be income generating.'</p><p>"And technology is making it easier for investors to buy affordable homes on a large scale.</p><p>" 'I think what's relatively new is these large investors picking up lots of properties and using a lot of automated tools and working at scale to acquire properties,' Ray says. 'That used to be harder to do.'</p><p>"When prospective buyers can’t afford to buy, the ripple effect can extend to the rental market.</p><p>" 'It also makes it more difficult for other people to find affordable rental housing,' Ray says, 'because people who would have moved on from a rental to an ownership unit are staying in the rental unit.' "</p><p><a href="https://www.voanews.com/a/home-investors-buy-into-black-neighborhoods-displacing-long-time-residents-/6786585.html" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="ellipsis">voanews.com/a/home-investors-b</span><span class="invisible">uy-into-black-neighborhoods-displacing-long-time-residents-/6786585.html</span></a></p><p><a href="https://kolektiva.social/tags/HousingForAll" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>HousingForAll</span></a> <a href="https://kolektiva.social/tags/Unhoused" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Unhoused</span></a> <a href="https://kolektiva.social/tags/AffordableHomes" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>AffordableHomes</span></a> <a href="https://kolektiva.social/tags/Racism" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Racism</span></a> <a href="https://kolektiva.social/tags/UnaffordableHousing" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>UnaffordableHousing</span></a> <a href="https://kolektiva.social/tags/USPol" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>USPol</span></a> <a href="https://kolektiva.social/tags/TrumpSucks" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>TrumpSucks</span></a> <a href="https://kolektiva.social/tags/AISucks" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>AISucks</span></a> <a href="https://kolektiva.social/tags/CorporateLandlords" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>CorporateLandlords</span></a> <a href="https://kolektiva.social/tags/Greed" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Greed</span></a></p>