Who Is Buying My Neighborhood? | Sojourners

Who Is Buying My Neighborhood?

Anonymous corporations own more and more of our cities.

INVISIBLE FORCES ARE disrupting housing markets in most metropolitan areas, fueling the most acute housing crisis in a generation. As pandemic protections are lifted, many communities are anticipating waves of evictions and foreclosures. By one estimate, the U.S. has a shortage of more than 5.5 million units of housing.

Among these invisible forces is an explosion in short-term rentals, a shift to corporate ownership of rental housing, and a plague of global billionaires looking to park money in U.S. real estate markets. Put this on top of inequality-fueled gentrification and many cities have a full-blown affordability and supply crisis.

In some communities, thousands of apartments and homes are being snatched up by anonymous corporations. Now a growing number of community leaders are pressing to know: Who is buying our cities?

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