[mandevil]

Seeing Hawaii, Alaska, Vermont and Wyoming at the top makes me wonder if their definition of "investor-owned" is actually picking up vacation houses/second homes? Just those are all small states with significant vacation housing markets, wonder if that is driving things here.

[jimbokun]

Well obviously those would be included. Anything that’s not owner occupied.

[mandelbrotwurst]

The article does state they were included, but is it "obviously" true that they should be? Who is more of an "investor", someone who purchases a primary residence to build equity or someone who purchases a second home to vacation in, spending large amounts of money to maintain it and allowing it to sit empty for long periods of time?

[jimbokun]

The latter.

[mandelbrotwurst]

In what sense? An investor seeks a return on their investment. The former achieves this. The latter spends money for pleasure. I suppose you could argue that they are an investor seeking non-monetary return, but in that sense everyone is equally an investor, just with different goals.