The Rent Roll with Jay Parsons EP#67 Joshua Coven | Top 10 Myths About Institutional Investors In Housing
Jan 15, 2026
In this discussion, Joshua Coven, an assistant professor at Baruch College and former NYU PhD, dives into his award-winning research on institutional investors in housing. He debunks common myths, revealing that institutions only constitute 0.5% of single-family rental sales and often enhance neighborhood access for renters. Coven's findings indicate that larger institutional scales actually lower rents and improve maintenance, countering the belief that these investors drive prices up. His insights challenge perceptions about the influence of institutions on homeownership and rental markets.
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Focus Policy On Root Affordability Issues
- Remember that renters in SFR are real people with families making memories and needing space.
- Address root affordability issues (credit, down payments, rates) rather than blaming institutional buyers alone.
Institutional Share Of Home Sales Is Tiny
- Institutional investors make up roughly 0.5% of single-family home sales, not 25% as claimed.
- Small investors (1–9 properties) account for about 20% of sales and dominate investor activity.
Banning Institutions Won't Create Mass Homebuyers
- Removing institutional buyers won't automatically turn renters into homeowners because many renters lack mortgage qualifications.
- Josh Coven's research shows over half of institutional purchases would instead go to smaller investors if institutions exited.