Two indicators for lowering the rent

Planet Money17mJune 10, 2026
AI-Generated Summary

Corporate landlords aren't the main driver of rising rents—despite widespread political backlash. A new bill aiming to restrict institutional investors from owning single-family homes could backfire by killing off 'build-to-rent' housing, which already supplies a growing share of rental units and helps low-income families access better neighborhoods. Meanwhile, the near-eradication of single-room occupancy (SRO) buildings—once a lifeline for the poor and working class—has contributed significantly to America’s homelessness crisis. In cities like New York, SROs once offered affordable, independent living for as little as $100 a month. Their destruction in the mid-20th century, fueled by urban renewal policies with racial and classist undertones, removed a critical safety net. Today, experts argue that reviving SROs—especially with support services—could be a low-cost, high-impact solution to housing affordability and homelessness. The evidence suggests that the real culprits behind unaffordable housing are not corporate landlords, but decades of underbuilding and policy decisions that erased the cheapest forms of shelter. The episode reveals two powerful levers for lowering rent: first, allowing institutional investors to keep building rental homes, which increases supply and often lowers prices; second, legally enabling the return of SROs—cheap, supportive housing that can serve as a bridge for people between shelters and permanent homes.

Key Takeaways
1

Corporate landlords own less than 1% of U.S. homes and are not a major driver of rent increases.

2

Build-to-rent housing accounts for 1 in 12 new homes built in 2024 and helps increase rental supply.

3

Restricting institutional investors could kill build-to-rent development, worsening housing shortages.

4

SROs once made up 10% of New York’s housing stock and cost as little as $100/month in today’s dollars.

5

The elimination of SROs contributed to a surge in homelessness, especially in the 1980s.

…and 3 more takeaways available in PodZeus

Chapters
0:00
2 min

The Global Crisis and NPR Plus

Introductory segment highlighting the importance of global reporting and promoting NPR Plus membership.

1:40
2 min

Amanda’s Concern: Corporate Landlords in Tennessee

Amanda Cantrell’s experience searching for a rental in Murfreesboro, TN, reveals her unease with corporate ownership of homes and the political backlash against institutional investors.

3:20
2 min

The Rise of Institutional Investors After 2008

Post-recession, investors bought foreclosed homes cheaply and turned them into rental assets, fueling the growth of REITs and build-to-rent housing.

5:00
2 min

Corporate Landlords: Villains or Solution?

Experts debate whether institutional investors drive up rents or actually lower them by increasing supply and improving deteriorated homes.

6:40
2 min

The Crime and Community Impact of Corporate Ownership

Research shows corporate landlords correlate with higher crime rates in neighborhoods, but also enable access to better schools and social mobility.

High-Impact Quotes
I mean, this is a bill designed to increase supply and you're actually cutting off the activity that is designed to do exactly that, which doesn't make sense.
Lori Goodman5:34
Also, Stephen says corporate landlords actually tend to reduce rental prices by bringing more rental homes into the market.
Stephen Billings3:47
We would like to buy a home in the future, and the fact that corporate investors can take all of them feels unfair.
Amanda Cantrell1:00
Speakers

Hosts

Darian WoodsWhelan Wong

Guests

Stephen BillingsLori GoodmanAdrienne TodmanVera HillRebecca Baird-RembaPaul Freitag
Topics Discussed
single room occupancy95%housing affordability92%build-to-rent housing90%homelessness88%institutional investors85%corporate landlords85%urban renewal80%rent regulation70%
People & Brands

Stephen Billings

person

8xNeutral

Amanda Cantrell

person

6xNeutral

Vera Hill

person

5xPositive

Rebecca Baird-Remba

person

4xNeutral

Lori Goodman

person

4xNeutral

Euclid Hall

other

3xPositive

Westside Federation for Senior and Supportive Housing

organization

3xPositive

Adrienne Todman

person

2xNeutral

International Hotel

other

2xNeutral

Paul Freitag

person

2xNeutral

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