Disney Buys Entire Block in Burbank, Removing Homes From a Competitive Market
Disney has acquired all homes on the east side of S. Keystone Street in Burbank, California, directly across from its studio complex. The properties are now used exclusively for filming and temporary corporate housing, effectively removing them from the local housing market.
“Each home held by a corporate owner decreases options for first-time homebuyers in a tight market.”
— Deborah Pisaro, real estate broker
A Tight Market Gets Tighter
The acquisition comes amid an already challenging housing environment in Burbank. The city’s median home price stands at $1.61 million, and while inventory has increased nearly 50% over the past three years, homes still sell at 99% of asking price. Real estate agents describe the local market as highly competitive, where every available listing matters.
Disney’s Role and Community Response
Disney maintains the properties in pristine condition and continues to pay property taxes. However, critics note that corporate ownership of an entire block reduces available housing stock for individual buyers.
Online observers have described the street as eerily uniform, comparing it to “Stepford houses.” Some former residents, however, appreciate that Disney has preserved the neighborhood’s appearance and upkeep.
Key Takeaways
- An entire residential block has been converted to corporate use, limiting options for local homebuyers.
- Burbank’s market remains tight, with homes selling near asking price despite rising inventory.
- Disney maintains the properties well, but the removal of homes from the market highlights ongoing tension between corporate ownership and community housing needs.