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Will Wall Street Buy Up Homes During Recession?
A large banner advertising open apartments hangs on the walls of a large multi unit apartment building in Koreatown. (Chava Sanchez/LAist)
As the coronavirus pandemic stretches on and the news about the economy gets bleaker, California elected officials are worried about the impacts on housing.
State, local and national politicans have said they don’t want real estate speculators and large corporate landlords to swoop in and drive down homeownership, in a repeat of the aftermath of the Great Recession.
Those "corporate landlords" have transormed the rental market in profound ways in recent years.
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