this post was submitted on 22 Oct 2023
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Strange then, that this has not occurred.
They currently own 4.7mm out of ~75mm homes. It's just more in Cali, which is probably where the person you heard this from lives.
Here's an article warning against the practice with data
https://www.nytimes.com/2020/03/04/magazine/wall-street-landlords.html