Impact of Non-Local Ownership on Wealth Building

The analysis reveals that in the bottom 10% of census tracks by income, 42% of housing stock is owned by non-local entities compared to 16% in the top 10%. This disparity increases as one moves down the income ladder with a linear pattern. In the poorest neighborhoods, a significant proportion of homes are owned by non-local owners, indicating wealth generation exit from the locality. The lack of local ownership impedes wealth building and community investment, affecting the ability to create family and generational wealth. The associated map highlights the correlation between low-income, high non-local ownership areas, and high-income, high local ownership regions, illustrating a trend of wealth migration out of cities into surrounding areas.