Security for Sale: Watch our panel talk about reporting on big investors buying up 40,000 NC homes
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Security For Sale: Converting NC homes to rentals
Institutional investors have bought at least 40,000 single-family homes across North Carolina in the past decade and now rent them out. The industry — primed for continued growth — says it improved the rental experience, providing safe, affordable houses that were previously inaccessible to renters. But owning a house traditionally offered financial security for most American families. And our investigation finds the business model of these companies is finely tuned to squeeze profit from the homes, often to the detriment of renters, neighbors or other would-be buyers.
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In the past decade, institutional investors bought tens of thousands of homes in North Carolina’s metro areas, converting them to rentals.
Companies say they are simply meeting market demand. Critics say their buying spree is altering neighborhoods and the housing market, especially in Charlotte. Yet little is being done to check their reach.
In an investigative report, The Charlotte Observer and The News & Observer shed light on the inner workings of this industry, and how that affects people who live where they own.
The three reported the three-part series that runs May 1-3, and discussed what they found, along with possible solutions to the problems the new trend presents.
You can watch our event on YouTube and Facebook, or you can view our discussion above.
This story was originally published May 1, 2022 at 5:00 AM with the headline "Security for Sale: Watch our panel talk about reporting on big investors buying up 40,000 NC homes."
