Like Phoenix, Oakland, California is also reportedly experiencing a significant amount of investor activity that may be crowding out purchases by prospective homebuyers and nonprofits. We hear complaints that many of these investors are not based in Oakland, causing residents to express concern about external ownership of their neighborhoods and the long-term implications of absentee landlords.
In an attempt to address these concerns and provide more homeownership opportunities to low- and moderate-income Oakland residents, a national nonprofit, Enterprise Community Partners, is working with a private real estate fund to direct some of the private dollars seeking investment properties in Oakland.