And ...?

Not sure what you're asking.

As the report points out, institutional investors purchase only 3% of homes nationwide (but much higher in some cities). Regular smaller investors likely buy more homes than the institutional ones.

> institutional investors purchase only 3% of homes nationwide (but much higher in some cities).

This is crucial. People are in cities - in the day and age of corporate consolidation, less and less jobs are available, and they are increasingly in-office, and increasingly in only a select few metro areas.

Nobody would give a damn if a glut of housing was built in the middle of South Dakota or Maine or Wyoming. That's because there's very little to no jobs growth in those regions.

Most people are in cities, and most rentals in cities are not owned by then - except for the exceptions pointed out (Midwest and Southeast).

If you're having trouble buying a house in Atlanta, yes - they are a big factor.

In Austin? No - not a big factor.