[vel0city]

Many markets don't have many individually owned apartments. In my area, many hundreds (maybe even thousands?) of apartment units have been constructed. Practically none of them are individually owned, they're all large apartment complexes owned entirely by corporations. There are some condos and townhomes that come on the market from time to time but generally speaking if one wants apartment life you're renting.

[xp84]

I'm curious, what area is this? That sounds strange to me.

Some people in your boat would choose to buy an investment property in one place and rent in another in order to still get exposure to the real estate appreciation that is so common, while not having to buy a condo in a difficult area like yours. But it would probably be so much easier to just to invest in a few good residential property REITs.

Probably lower return than the best case scenario of owning a rental, but with all the costs diluted across a large portfolio (instead of 'surprise, you need a new roof!')

[vel0city]

Richardson specifically, but honestly most of DFW. Pretty much any apartment complex built in this area in the past 20 years is corporate owned. These days even a lot of the townhouses around are corporate owned rental units.

In fact, this area (and other places in Texas) has given rise to a new kind of apartment architecture called the "Texas Doughnut", which is a 5-over-1 apartment complex wrapping a central parking garage and often other courtyards in the middle. These things are everywhere in DFW. Just take a peek on Google Maps.

https://maps.app.goo.gl/KKHx47n7qooQCjNz9

https://maps.app.goo.gl/uqwBGv3nRrTLfWvw7

https://maps.app.goo.gl/SX9wNG1441xrWwBAA

https://maps.app.goo.gl/SL49yPkoA8VqE23F6

https://maps.app.goo.gl/MEiqBnhMF8pQjGu36

But it is not just DFW. A lot of other cities in the US have similar things going on. It seems like most cities I'm in often have most new apartments I see be corporate owned units, not a lot of individual ownership.

[xp84]

Thanks! That's an interesting trend. I wonder if that is mainly due to high rates, making condo purchase less attractive to non-wealthy people than it was 5 years ago.