Baltimore Sun: Outside Investors Are Buying Up Homes in Baltimore's Low-Income and Black Neighborhoods
A Baltimore Sun investigation into outside real estate investors buying homes across the city features two members of the Dominion team discussing the company's approach to responsible acquisitions.
The Baltimore Sun publishes an investigation into the rise of outside real estate investors buying homes in Baltimore, particularly in low-income and predominantly Black neighborhoods. The piece looks at how investor purchases have grown in recent years, and includes perspectives from housing advocates, city officials, tenants, and several of the investment firms active in the city, including Dominion.
Brian Leibowitz, Director of Acquisitions at Dominion Properties, speaks with the Sun at a foreclosure auction about how rising competition among investors makes it harder to find deals that still allow for quality renovation work. He explains that Dominion chooses to buy fewer homes in order to keep its standards high, saying, "we know the numbers, and we know them better than most."
Jack BeVier, a partner at Dominion Group, also speaks with the Sun for the piece. He offers a different perspective on why investors are drawn to Baltimore's most vulnerable neighborhoods, pointing to a long-standing gap between the cost of renting and owning a home in the city, and arguing that the trend reflects a lack of interest from individual Baltimoreans rather than investors displacing them.
The full article explores multiple viewpoints on this topic, including from housing advocates and tenants who have had difficult experiences with other investment companies. Read the full piece for the complete picture.