As the cost of homebuying rises further out of reach for many Americans and home inventory remains tight, many people around the country — including Senators and local officials — are asking how much of the blame lies with the hedge funds and mega investors snapping up affordable homes to convert into rental properties.

A new report from the Federal Reserve Bank of Minneapolis suggests the answer is complex.

The study focused on the seven-county Minneapolis metropolitan area, where investor ownership of single-family rental homes doubled from 2006 to 2015 and now accounts for 3.4% of SFR detached homes.

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