LLCs are buying NJ houses at a breakneck pace
WNYC News | Aug 25, 2022
Anyone who has tried to buy a home lately knows it's a tough market, but a new report by the Asbury Park Press finds New Jersey homebuyers aren't just in competition with other people — they're also up against multimillion-dollar corporate investors.
Michael L. Diamond and Stephen Stirling delved into the numbers and found a story of LLCs snapping of tens of thousands of homes, pricing out regular residents. Tenants can't keep up with the rent. Diamond and Stirling discovered that there are six times as many LLCs owning single- to four-family homes in the state as there were 10 years ago.
