We're thrilled to be able to help the Fair Housing Center of Central Indiana promote this important event. Indianapolis is now tied for #5 in most private equity home ownership. It affects all of us in Indiana!

We have a housing crisis in Indiana. Fewer and fewer Hoosiers own their homes while out-of-state investors have and continue to buy single-family homes in record numbers. The American dream of homeownership has turned to that of being a long-term renter. Although this is a statewide problem, it is particularly acute in Central Indiana. We estimate over 27,000 single-family rental (SFR) properties in Marion County are now owned by corporate investors (LLCs, INCs, LLPs, REITs, etc). This activity, to date, is not slowing, with more purchases made every month. Investor purchases overwhelmingly take these affordable homes from opportunities for homeownership to high cost rentals. We estimate that around 13,000 (and growing) of Marion County’s single-family homes are owned by out-of-state investors. With each transaction is a loss of income, each month, of upwards of $15 to $20 million in rent payments that leave Indiana and disappear from our local economy. Focusing on the 27,000 investor-owned SFR properties in Marion County identified by the FHCCI, 12,570 or 46% of those properties are owned by out-of-state investors. Imagine if half those homes were available to prospective home buyers!

Join us on August 13, 2024 for a presentation by Brendan Ballou, author of “Plunder: Private Equity’s Plan to Pillage America,” as he sheds light on how private equity firms are actively reshaping American business using legal loopholes to avoid liability. These firms often use short-term tactics that leave the businesses they purchase a shell of their former selves while the communities left behind suffer the long-term consequences of those bottom-line decisions. The FHCCI is especially concerned about private equity’s involvement in the housing market, discussed by Mr. Ballou in his book.