
Stacked Against Us A New Generation of Corporate Ownership
Nov 11, 2025
John D. Johnson, a parcel-level analyst and local researcher, shares insights on how corporate landlords are reshaping struggling cities like those in the Rust Belt. He discusses the appeal of cheap housing, where low purchase prices meet steady rents, creating a lucrative but risky model for investors. Johnson reveals how financial incentives perpetuate these trends and the negative local impacts, such as evictions and neighborhood instability. He also contrasts strategies between the Sun Belt and Rust Belt, highlighting the unique challenges faced by vulnerable communities.
AI Snips
Chapters
Books
Transcript
Episode notes
Out-Of-Area Ownership Is Pervasive
- ReGrid's parcel analysis shows a quarter of U.S. homes are owned out-of-state or out-of-zip-code.
- Alex Alsup found firms like SFR3 concentrating thousands of homes in Rust Belt and Midwest markets.
SFR3's Sudden Regional Rollout
- Alex noticed 600–700 homes in Muscogee County shifted from individuals to corporate ownership under LLCs named SFR3.
- He then found about 10,000 homes nationally tied to SFR3, concentrated east of the Mississippi.
Investors Shift From Sun Belt To Rust Belt
- Early corporate single-family investors targeted fast-growing Sun Belt metros with newer housing stock.
- Newer entrants like SFR3 and Vinebrook instead focused on aging, lower-value Rust Belt homes.


