State lawmaker files 2 interim study requests on Oklahoma housing crisis
TULSA, Okla. (KTUL) — Corporations are buying up houses and renting them out to Oklahomans.
Inflating the value of the homes and rent, making it more difficult for Oklahomans to purchase a home.
“We know that homeownership is the best way to build generational wealth, build equity, and to have a solid future," said Representative Mickey Dollens.
Dollens pointed out that Oklahoma has the third most homes owned by out of state investors and it’s one of six states that doesn’t have anti-retaliation laws for tenants.
“Those combined I feel like create a predatory nature for out of state investors to come in and take advantage of low income Oklahomans," said Dollens.
There are a number of companies that have decided to build their rental property portfolio.
“One of the major players is BlackRock and BlackRock's model. Their business model is they’d rather people rent the American dream than own it," said Dollens.
Dollens has requested two interim studies be done on the issue. He wants to bring in local experts to come up with a solution.
“We could also make it disadvantageous for out of state investors to come in and just completely monopolize the market," said Dollens.
He says there’s a fine line between doing something that could hurt the housing market and interrupt capitalism and helping Oklahomans trying to compete for houses.
“If the government doesn’t do something to intervene, eventually more people than not will be renting than homeowning," said Dollens.
The Speaker of the House has to make a decision on the interim studies by the end of July.