Well, as long as builders aren’t colluding to fix supply, it doesn’t matter.
Corporations can buy up all they want… but idle units are unprofitable. Between property taxes, borrowing costs and maintenance (which accrues whether units are empty or not), units need revenue or they are a drag on profits. Cartels fall apart very rapidly under these conditions.
Right now demand outstrips supply by a wide margin. This makes it profitable to buy and rent it out. Build enough housing to put some slack in the market and that equation will rapidly reverse.
TL;DR corporate ownership is a symptom, not a cause of housing supply issues.
Corporations can buy up all they want… but idle units are unprofitable. Between property taxes, borrowing costs and maintenance (which accrues whether units are empty or not), units need revenue or they are a drag on profits. Cartels fall apart very rapidly under these conditions.
Right now demand outstrips supply by a wide margin. This makes it profitable to buy and rent it out. Build enough housing to put some slack in the market and that equation will rapidly reverse.
TL;DR corporate ownership is a symptom, not a cause of housing supply issues.