A few North Texas cities are looking at ways to address the concerns of institutional investors buying up too many single-family homes, including the mayor of Rowlett.
PUBLISHED 2:36 PM CDT Jun. 30, 2022DALLAS — “I was born and raised in Rowlett. I was elected to council at 18 years and mayor at 23,” he said.
A new study from the National Association of Realtors shows that institutional investors, like companies or hedge funds, own nearly a third of Texas homes, leading any other state. At the moment, Margolis and other city leaders are in the preliminary stages of conducting research and collaborating with their legal team on ways that they could approach potentially putting a cap on the amount of homes investors could purchase; it’s an idea that the city of Dallas is also looking into.
Johnson says while the number of investor-bought homes has grown, there’s still some balance between those entities and homebuyers. Johnson says the low interest rates we’ve seen in the last couple of years have played a factor in the housing market frenzy we’ve seen statewide.
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