July 2, 2019
Investors accounted for more than 11 percent of U.S. home purchases in 2018, the highest rate on record, and nearly double the level before the 2008 housing crash. In Detroit and Philadelphia, investors bought almost half the starter homes to flip or turn into rental properties.
Meanwhile, just 100 families own about 42 million acres of land across the country, the equivalent of a 65,000-square-mile expanse. They include cable billionaire John Malone, who owns 2.2 million acres, primarily in New Mexico and Colorado, and oil heir William Bruce Harrison, who owns 19 Colorado mountains. The amount of private land owned by those top 100 families has increased 50 percent since 2007.