Since the Great Recession, homeownership is down and corporations are taking advantage of the profit opportunities.
"Just as high-priced condos in expensive cities have become a new kind of asset for large companies and wealthy foreigners, so too have larger and larger numbers of single-family homes been turned into investment vehicles for large corporations," writes Richard Floria.
A new working paper from the National Bureau of Economic Research shows that one of the outcomes of the Great Recession was a decline in home ownership of 4 percent between 2007 and 2014, when private companies came in and acquired these properties. "This represents more than $220 billion in housing value—a huge transfer of wealth from Americans who once owned, or would have owned, these homes, to large corporations," says Florida.
These companies, notes Florida, are profiting both from rental incomes in cities with lower home prices and from the appreciation of properties in more expensive cities. "For a growing number of families, the American Dream of owning their own home and the wealth and financial security that comes from it have given way to renting a place to live from a mega-corporation."
FULL STORY: How Housing Wealth Transferred From Families to Corporations
Builders Look to Growing Home Rental Market
Subdivisions in states across the country are catering to people who want the benefits of living in homes without the burdens of home ownership.
Post-Recession Migration Patterns of Younger and Older Americans
New census data shows that millennials and seniors are migrating less, a result of the Great Recession and its economic impacts. For those who are moving, cities in the Sun Belt have been primary destinations.
Big-Box Retailers Say Property Assessments Are Too High; Communities Suffer the Consequences
"Dark store theory" argues that nearby depreciated properties should figure into property valuations. The resulting property tax cuts mean local municipalities end up taking a huge hit.
What ‘The Brutalist’ Teaches Us About Modern Cities
How architecture and urban landscapes reflect the trauma and dysfunction of the post-war experience.
‘Complete Streets’ Webpage Deleted in Federal Purge
Basic resources and information on building bike lanes and sidewalks, formerly housed on the government’s Complete Streets website, are now gone.
The VW Bus is Back — Now as an Electric Minivan
Volkswagen’s ID. Buzz reimagines its iconic Bus as a fully electric minivan, blending retro design with modern technology, a 231-mile range, and practical versatility to offer a stylish yet functional EV for the future.
Healing Through Parks: Altadena’s Path to Recovery After the Eaton Fire
In the wake of the Eaton Fire, Altadena is uniting to restore Loma Alta Park, creating a renewed space for recreation, community gathering, and resilience.
San Diego to Rescind Multi-Unit ADU Rule
The city wants to close a loophole that allowed developers to build apartment buildings on single-family lots as ADUs.
Electric Vehicles for All? Study Finds Disparities in Access and Incentives
A new UCLA study finds that while California has made progress in electric vehicle adoption, disadvantaged communities remain underserved in EV incentives, ownership, and charging access, requiring targeted policy changes to advance equity.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
City of Albany
UCLA Lewis Center for Regional Policy Studies
Mpact (formerly Rail~Volution)
Chaddick Institute at DePaul University
City of Piedmont, CA
Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research