“But no one has tried to buy and sell homes at the scale of Cincinnati, which is “a game-changer for the housing market,” reporter Konrad Putzier said on a recent Wall Street Journal podcast about the acquisition. “If other cities follow the example of the Cincinnati Port Authority, it could really have an impact.”
Cincinnati’s has undertaken a counterattack to skyrocketing housing and rental costs, which it blames in part on the big investment funds purchasing properties for rental income. After purchasing almost 200 properties, the city will now rent the homes at an affordable price with the hope of transitioning the renters into owners.
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In a related matter, the Wall Street Journal focuses on HOA’s “blocking companies from buying single-family homes, rewriting homeownership rulebooks to thwart investor purchases of suburban housing.”
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