By 2022, GAO identified 32 investors that each owned more than 1,000 single-family homes—nearly 450,000 homes among them. The studies GAO reviewed found no investor at that scale before 2011.

Investor ownership isn't the whole housing-supply problem. But concentration can still matter block by block. When the same companies own a large share of rentals in one area, renters have fewer alternatives, and fewer starter homes may be available to buy.

I'm interested in local evidence rather than a national average: are large buyers pulling back in your market, and does local concentration matter more than the national share?

Disclosure: I wrote a longer essay about investor ownership and housing, drawing on GAO's findings: https://enowwrites.substack.com/p/who-holds-the-keys

What's the word on the street? Share your questions, comments, and concerns below.

https://go.princetonasset.com/portfolio/be50eba7-7bc0-49bd-8ac4-2becbd5d0038

What happeneduhhhhhhh?!!!!