Corporate Investors and the Housing Affordability Crisis in the U.S.: Having Wall Street As Your Landlord

Given the importance of housing affordability to one's social class standing, one's ability to afford decent, secure housing is not only important on an individual level, but impacts intergenerational im/mobility as well. The purpose of this research is fourfold: it examines the recent trend in bulk housing purchases by Wall Street corporate investors who turned those purchases into single family rental (SFRs) properties, post the Great Recession. The phrase 'buy low, rent high' is common parlance in today's SFR investor market. Second, in so doing, this research discusses the implications for the population in general, but for marginalized populations in particular, that is, persons of color and those in the lower socioeconomic strata of American society. Third, this research examines a closely related housing phenomenon, condominium deconversion, where corporate investors purchase privately owned condominiums in bulk, who turn them into rental units. Fourth , summary analysis and suggestions for future research as well as legislative and policy proposals to offset the housing affordability crisis in the U.S. conclude this research. While this research focuses on the U.S. context, the global implications of the financialization of the housing industry by corporate investors across the globe, post the Great Recession, will be referenced and contextualized, as well.