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Out-of-state, small investors — or "laptop landlords" — accounted for more than 4% of home sales in Raleigh and Durham during the first half of 2022, according to an analysis by Attom Data Solutions and the Wall Street Journal.
Why it matters: Most of the frustration over the rental crisis in southern cities has been directed at big corporations buying up hundreds of homes and renting them out for top profit.
Details: Out-of-state investors are taking advantage of technology — like crowdfunding platforms and online management services — that enables them to buy a home quickly online, sometimes without even visiting the city where the home is located, according to the Wall Street Journal’s analysis.
The big picture: Investors bought up 28% of all single-family homes nationwide in February of this year, up from 17% in 2019, according to the data firm CoreLogic, the Journal reports.
Zoom out: Southern states and metros like Georgia, North Carolina and Mississippi, are leading the nation in this investment.
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