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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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- Supes Extend Eviction Protections, Explore Sale Of Properties Facing Default To Community Groups
- Deceit, Disrepair and Death Inside a Southern California Rental Empire
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You come to LAist because you want independent reporting and trustworthy local information. Our nonprofit newsroom doesn’t answer to shareholders looking to turn a profit. Instead, we answer to you and our communities. We are free to follow facts wherever they lead and to hold power to account without fear or favor. Our only loyalty is to our readers and listeners and our mission: to inform, engage, and strengthen Southern California’s communities.
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