Investment companies started buying up California homes when the foreclosure crisis hit. Now, one company owns so many, a Sacramento man made a map to show the impact.
"So here's Natomas right here, there's all these properties," Lundquist said. "Here's South Sac. All these dots represent where the company owns. Pretty wild."
"This is a really hot issue," Lundquist said.
"I would say it's housing-crisis profiteering," Lee said. "So as we produce more housing, we don't want the market to be eliminated or narrowed because of those corporate actors."
"This is a tired narrative that lawmakers often promote that distracts from the real causes of high housing costs in markets like California," the spokesperson said in a statement.
Lee's proposed law passed through the Assembly and heads to the Senate judiciary committee next.
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