Corporate investors and the housing affordability crisis: Having wall street as your landlord

IF 0.9 4区经济学 Q3 ECONOMICS

American Journal of Economics and Sociology Pub Date : 2024-01-08 DOI:10.1111/ajes.12556

Carol Camp Yeakey

引用次数: 0

Abstract

Given the importance of housing affordability to one's social class standing, one's ability to afford decent, secure housing is not only important on an individual level, but impacts intergenerational im/mobility as well. The purpose of this research is threefold. First, it examines the recent trend in bulk housing purchases by corporate investors who turn those purchases into single family rental properties. In so doing, it discusses the implications for the population in general, but for marginalized population in perticular, that is, persons of color and those inthe lower socioeconomic strata of society. Second, this research examines a closely related housing phenomenon, condominium deconversion, where corporate investors purchase privately owned condominiums in bulk who turn them into rental units. Third, summary analysis and suggestions for future research as well as legislative and policy proposals to offset housing affordability conclude this research.

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企业投资者与住房负担危机：让华尔街成为你的房东

鉴于住房负担能力对一个人的社会阶层地位的重要性，一个人能否负担得起体面、安全的住房不仅对个人层面很重要，而且还影响到代际间的不平等/流动性。本研究有三个目的。首先，它研究了近期企业投资者大量购买住房并将其转化为单个家庭出租物业的趋势。在此过程中，它讨论了对一般人口的影响，特别是对边缘化人口，即有色人种和社会经济地位较低的人的影响。其次，本研究探讨了与之密切相关的一种住房现象，即共管公寓转型，即企业投资者大量购买私人拥有的共管公寓，然后将其转为出租单位。第三，总结分析和对未来研究的建议，以及抵消住房可负担性的立法和政策建议，为本研究划上了句号。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

American Journal of Economics and Sociology Multiple-

CiteScore

1.90

自引率

12.50%

发文量

期刊介绍： The American Journal of Economics and Sociology (AJES) was founded in 1941, with support from the Robert Schalkenbach Foundation, to encourage the development of transdisciplinary solutions to social problems. In the introduction to the first issue, John Dewey observed that “the hostile state of the world and the intellectual division that has been built up in so-called ‘social science,’ are … reflections and expressions of the same fundamental causes.” Dewey commended this journal for its intention to promote “synthesis in the social field.” Dewey wrote those words almost six decades after the social science associations split off from the American Historical Association in pursuit of value-free knowledge derived from specialized disciplines. Since he wrote them, academic or disciplinary specialization has become even more pronounced. Multi-disciplinary work is superficially extolled in major universities, but practices and incentives still favor highly specialized work. The result is that academia has become a bastion of analytic excellence, breaking phenomena into components for intensive investigation, but it contributes little synthetic or holistic understanding that can aid society in finding solutions to contemporary problems. Analytic work remains important, but in response to the current lop-sided emphasis on specialization, the board of AJES has decided to return to its roots by emphasizing a more integrated and practical approach to knowledge.