California's housing-crisis crackdown includes a stunning new look at just how many homes in your neighborhood are owned by Wall Street companies.

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.

Ryan Lundquist is a Sacramento real estate analyst and appraiser who found that the Texas-based company Invitation Homes owns 11,000 homes in California and nearly 2,000 in Sacramento.

"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."

The  reads it's the nation's largest single-family leasing and management company. 

"This is a really hot issue," Lundquist said.

Now, California Democratic Assemblymember Alex Lee wants to cap the number of single-family homes corporations can buy in California, arguing the investment companies are preventing local families from attaining home-ownership opportunities.

"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."

A spokesperson for Invitation Homes responded to Lee's legislation.

"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. 

In 2024, the company paid $2 million in a settlement after the California attorney general sued Invitation Homes for price gouging.

Lee's proposed law passed through the Assembly and heads to the Senate judiciary committee next. 

• Sacramento
• Housing Crisis