“A recent analysis from Shelby County Property Assessor Melvin Burgess’ office found in the past two years, investment companies have bought more than 7,000 homes and turned them into rental properties. ” If you want to know more about this buying, check the news here https://www.localmemphis.com/article/news/investigations/i-team/investment-firms-buying-thousand-memphis-homes-what-does-that-mean/522-22f14ac0-581e-460d-9fca-43f313de45c6.
I am curious if such a big scale of investment on residential property will boom up Memphis’s economy. On one side, hot money is coming into the city. But the other side, if I want to live there for long term, isn’t it hard to compete with investment firms to buy a house? It feels like it’s harder for people to call Memphis home if I’m forced to rent. What do you think?