Who Owns Newark? Transferring Wealth from Newark Homeowners to Corporate Buyers
As investor buyers target predominantly Black residential neighborhoods across many American cities, CLiME releases its investigative report on the unprecedented impact this trend is having on 1-4 unit homes in Newark, New Jersey. In Who Owns Newark? Transferring Wealth from Newark Homeowners to Corporate Buyers, David Troutt and Katie Nelson tell the detailed story of large-scale rent seeking by investors, taking advantage of the city’s foreclosure crisis, high percentage of renters and declining homeownership rate. Among the first neighborhood-level analyses of an American city for sale to outside investors, Who Owns Newark? highlights the risks this trend poses for renters, low-income residents, first-time homeowners and a city seeking neighborhood stability and offers recommendations for how local governments can regulate in the public interest.
