Last week, Erika Fotsch, director of Education and Outreach at the Fair Housing Center of Central Indiana, presented data on Indianapolis housing and eviction rates at Decatur Township’s Civic Council meeting.
What happened?
The Fair Housing Center is a nonprofit organization that advocates for an inclusive housing market through community programs, counseling, education and public policy.
Fotsch addressed the council regarding an investigative report by the Fair Housing Center. The report highlighted the growing trend of corporations and private firms purchasing homes to convert into rentals, contributing to a decline in home ownership.
The report found that over 12,000 single-family homes in Marion County are owned by out-of-state investors, and upwards of $20 million in rental payments made by local families leave the Indianapolis economy.
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Takeaway
Fotsch explained that prospective homebuyers, who investors are pricing out, are turning to rentals instead. However, they’re not opting for the luxury apartments on nearly every corner; instead, they’re renting more affordable units to save money for a future home purchase. As a result, those who genuinely need these affordable rentals are being pushed out of the market.
[How an eviction still haunts a single mother]
The Fair Housing Center of Central Indiana works to enact laws promoting open access to housing. “If we’re worried about protecting home ownership in our communities, we will need something that will rein in this investor activity,” said Fotsch.
What’s next?
The next Decatur Township Civic Council meeting is at 5:30 p.m., Sept. 9, at the Decatur Township Government Center, 5410 S. High School Road.
This brief is adapted from notes taken by Documenters Toby Raab and Monica Breedlove, who covered the August Decatur Township Civic Council meeting. Read more about what happened.
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