Housing costs continue upward spiral amid record landlord profits
A new report from consumer advocacy group Accountable.US suggests that corporate profits are a key driver of housing price inflation.
The report analyzed financial information from the two largest single-family rental companies in the U.S., Invitation Homes and AMH.
Accountable found that the two companies combined made $953 million in profit in 2023, a 37% increase from 2022.
“For many corporate landlords, there’s clearly no ceiling on rent increases or housing junk fees despite bragging about hundreds of millions of dollars in profits,” said Accountable.US’ Liz Zelnick. “If price-gouging property companies had any intention of self-regulating their greed, they would have done it by now instead of inviting a housing affordability crisis. It’s why conservatives in Congress must quickly act on President Biden’s proposals to lower housing costs for everyday families – not obstruct them on behalf of their greedy landlord donors.”
