Corporations Buying Up Kansas City Homes

Market forces explain why finding decent living space in this town is getting harder . . . Basically, big money is desperately seeking a profit and the landlord game has always been a turnkey industry.

The consequence . . . 

Smaller home providers and lower income denizens are getting squeezed out of the market whilst activist legislation makes the tragic situation EVEN worse. 

Here's the overview:

Investors are “intentionally targeting what has primarily been housing intended for ownership to turn it into rentals,” said Josh Akers, research manager for the Mid-America Regional Council.

A strong presence of large and out-of-state investors can have repercussions for tenants too, researchers found.

Real estate agents and large property investors say that the tight market comes from a housing supply shortage. Rising interest rates make it even harder for homebuyers to afford what they want — and the cost of borrowing money typically deters small investors from scooping up homes for rental income.

Still, a 2023 MARC study on investor impact found that rentals make up almost a fourth of all the single-family homes in the nine counties covering and surrounding Kansas City. Of the region’s 157,000 single-family rentals, nearly 20% are owned by people or companies with 10 or more properties.

Read more via www.TonysKansasCity.com link . . .

5 companies own 8,000 Kansas City area homes, creating intense competition for residents

Thousands of Kansas City homes are bought by large real estate investing companies. How does their presence impact the housing market?

Rents in Kansas City and Missouri are rising faster than almost anywhere else in the U.S.

Housing in the Kansas City area, and in Missouri overall, is quickly becoming unaffordable. The city and state are seeing some of the fastest rent increases in the country, and local housing experts and advocates say Kansas City needs to do more to protect residents.

Developing . . .