LA City Council sees institutional investor “monopolization” of housing market

Los Angeles officials are taking a closer look at whether deep-pocketed investors are shutting out would-be homeowners. The Los Angeles City Council voted last week to study how large institutional buyers, including investment firms and property management companies, are reshaping the city’s housing market and potentially squeezing out individual buyers, LAist reported. The new Housing Department study approved will seek to determine the effects of institutional investors on tenants, homeowners and small landlords. The vote follows a Los Angeles Housing Department report released in October that found large landlords steadily expanding their share of the city’s housing stock between 2018 […]This article originally appeared on The Real Deal. Click here to read the full story.