Can Congress stop Wall Street from buying up your neighborhood?
Summary
This episode examines the rise of corporate ownership in the US housing market, tracing its roots to post-2008 government auctions that sold foreclosed homes to investors. Host Meghna Chakrabarti discusses the new 21st Century Road to Housing Act, which caps large-scale investors at 350 units, with guests including Professor Carol Camp Yaakey, Mayor Bianca Motley-Broom, and NRHC CEO Adrian Todman. They debate whether limiting corporate landlords addresses affordability or distracts from broader supply and zoning issues.
Topics discussed
Sponsors and show introduction
Personal stories of foreclosure and the 2008 crash
Obama administration sells foreclosed homes to investors
Rise of corporate landlords and competition with families
Interview: Prof. Campyake on national vs. local ownership stats
Housing as wealth, health, and the American Dream
Why institutional investors were the only buyers in 2012
Interview: Mayor Motley-Broom on College Park housing crisis
Generational wealth and the impact of high rents
New caps on institutional ownership and eviction realities
Need for increased housing stock and local development
Interview: Adrian Todman on professional rental housing
Economies of scale and national ownership statistics
Federal regulations and the 'boogeyman' of Wall Street
Rental market dynamics and lack of price controls
Conclusion: Low wages and zoning as root causes
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