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Growth of rental home communities leads to calls for stronger regulation Community feels blindsided after out-of-state corporation changes plans and builds a rental home neighborhood. and last updated 2021-05-11 14:12:32-04 NASHVILLE, Tenn. (WTVF) â Nashville s housing market is booming. So is the Build to Rent industry, which is fueled by Real Estate Investment Trusts, often called Wall Street investment firms. These firms are flush with cash, and are buying land then building entire rental home communities. People in one Antioch neighborhood feel blindsided. They supported a new development at 3612 Butler Road after being told it would have more than 50 single family homes for sale. ....
Ken Chilton is an associate professor of public administration and policy at Tennessee State University. The Nashville region continues to attract global investment from multiple industries. Some people are blissfully unaware of the growth of extractive industries in Music City and their impacts on communities. But mining is a lucrative industry in Nashville. Mining? In Nashville? Yes, but it’s not minerals or oil it’s equity. Since the housing foreclosure fiasco in 20009-10, Wall Street landlords have accumulated large portfolios of single-family houses and converted them to single family rental properties. Over 7,300 homes in the region are owned by American Homes 4 Rent, Tricon, Progress Residential, and other institutional investors. ....