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Out-of-state corporate landlords are gobbling up Milwaukee homes to rent out, and it s changing the fabric of some neighborhoods
Cary Spivak, Milwaukee Journal Sentinel
Published
3:33 pm UTC Apr. 15, 2021
Angela Peterson / Milwaukee Journal Sentinel
Meet the new breed of landlord invading Milwaukee:
A couple of former Silicon Valley executives who were crewmates on the Harvard rowing team; a fast-growing Ohio company that owns more than 13,000 rental homes in 14 states; a native of Peru who has run real estate companies in Houston and Palm Beach, Fla.; and a southern California woman who was looking for a place to park her cash windfall.
New York, N.Y., is a hell of a town and in a post-COVID world, home buyers may also see it as a hell of a bargain.
Since COVID-19 emerged as a major concern in the first few months of 2020, the pandemic has upended the country’s housing market in many ways. At first, health concerns fueled the digitization of the home-buying process, with some people opting to purchase homes sight unseen apart from virtual tours.
The shift to remote working arrangements for people in white-collar jobs meant that households all across the country could rethink where they lived. This caused a surge in interest in vacation towns, as wealthier Americans opted to purchase second homes to wait out the pandemic.