The Federal Reserve Bank of Minneapolis has noticed an alarming spike in investor-owned homes in Minneapolis since the Great Recession.
The Federal Reserve Bank of Minneapolis has started monitoring a disturbing trend, writes Joy Wiltermuth: "an explosion of investor-owned homes" in high-poverty neighborhoods. According to a Minneapolis Fed report, the rate of investor-owned homes rose sharply after the Great Recession, with a growing number of 'very large' investors—those who own 50 or more properties—snapping up foreclosed homes. The trend accelerated during the COVID-19 pandemic as some homeowners were forced to sell or fell into foreclosure.
"One concern is that deep-pocketed investors 'make it harder for families, particularly lower-income households who are more likely to be people of color, to compete in the home-buying process,' according to the report." In Northeast Minneapolis, where the poverty rate is 41.7 percent, investors own close to a third of residential properties. The report also cites concerns that increased ownership by absentee investors who provide little maintenance will lead to the deterioration of housing stock and poor conditions for tenants.
Zoning Reform Is Working in Minneapolis
The city has grown its housing stock and limited rent cost increase to just 1 percent.
Quantifying the Impact of Pandemic Housing Assistance
The massive federal injection of funding into housing programs has had major impacts on many Americans’ ability to stay housed and out of debt, but fears loom as the end of some funding sources nears.
Twin Cities Parking Reform Shows Promising Results
Minneapolis and St. Paul both eliminated parking minimums, paving the way for less parking and more housing.
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.
Downtown Los Angeles on the Rise: A Promising 2025
Fueled by new developments, cultural investments, and a growing dining scene, downtown Los Angeles is poised for significant growth in 2025, despite challenges from recent wildfires and economic uncertainties.
San Francisco Slow Streets Bucks Citywide Trend, Reducing Injuries by 61 Percent
Low-cost interventions aimed at slowing traffic are making a major impact on road safety.
How Single-Family Conversions Benefit Both Homeowners and Cities
Converting single-family homes to triplexes can ease the housing crisis and offer affordable, flexible options for more households. Why is it largely illegal?
Report: Transportation Equity Requires More Than Electrification
Lower-income households often lack the resources to buy electric cars, signaling a need for a more holistic approach to improving mobility and lowering transportation costs.
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.
Economic & Planning Systems, Inc.
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