Corporate landlords own thousands of homes in Charlotte

Aug. 22. Mecklenburg County officials are recommending that the National Association of Counties push Congress, the White House and federal agencies to research the effects of corporate home purchases on housing markets.

They said investor-owned homes have become a significant barrier to housing affordability and availability.

According to Governing.com, investors bought a quarter of homes sold nationwide last year, driving up rents.

“Evidence shows that investors can often outbid other buyers, keeping starter homes out of the hands of would-be owners, especially Black and Hispanic families. The issue is especially prevalent in Sun Belt states,” Governing.com said in a recent article.

NC nearly doubled

In North Carolina, the number of investor sales rose 85 percent in 2021 compared to 2020.

Charlotte 2nd in US

By the end of last year, the Charlotte-Mecklenburg region ranked second in the nation for the highest concentration of investor-owned single-family home purchases.

The National Association of Counties “will promote a federal examination of the effect of such purchases on housing markets,” according to a press release issued by Mecklenburg County.

Background

There are no federal laws to prohibit landlords from rejecting housing vouchers or rental subsidy payments from tenants.