A Bloomberg opinion article argues that neighborhood style single and multi-family homes built specially for renters could help make housing more affordable and also avoid existing homeowners' normal aversion to high-capacity housing ("Not-In-My-Backyard-ism"). The author claims that institutional investment opportunities currently lie in building new homes, rather than in buying economically opportunistic existing homes because the market is now currently dealing with low rates of inventory. In new built-to-rent communities, high capacity housing will likely be received more warmly because of its potential to drive down rents, and because fears of any loss of property value would burden institutional owners rather than the occupants.
Read more in Crain's Cleveland Business here.
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