How Corporate Investors are taking over Tampa Bay’s Neighborhoods

According to the Tech Equity Collaborative report referenced in the article below, private equity and venture capital-backed companies are buying up homes at a mass scale and renting them out to the very people whom they have priced out of the market. The top firms have bought and rented an estimated 300,000 single-family homes since the Great Recession as of 2019. Technology is enabling this emerging class of corporate landlords, allowing them to rapidly scale by automating property management, home flipping, and other key aspects of the housing market. Venture-backed tech companies are capitalizing off increasingly desperate renters and would-be homeowners by offering largely unregulated products that purport to put people on a path to homeownership. The largest corporate landlords are buying and renting out homes concentrated in zip codes that average 40.2% Black, three times the national Black population of 13.4%.

Do you believe Florida elected officials know this, or care? Or, are they adopting policies to support the elimination of the American Dream in the Tampa Bay area while lining the pockets of corporate investors?

How corporate investors are taking over Tampa Bay’s neighborhoods