Relevant:
- Wall Street Cash Is Still Pushing Ordinary Homebuyers To The Curb
- Blackstone Rushes $2.5 Billion Purchase as Homes Rise
- Existing U.S. Home Sales Decline as Supply Drops
- Do You Pay Rent To Blackstone? This Is Where Wall Street Is America's Landlord (map)
- Foreclosures jump as banks bet on rising house prices
2013-05-21 — huffingtonpost.com
``These investment firms are acquiring vast quantities of homes, fixing them up, and then marketing them as rentals. They arrive at auctions or home sales bearing cash, which gives them a competitive edge on millions of ordinary would-be buyers like the Gilbertsons, who must finance their purchase using borrowed money. These cash buyers are also more likely to pay above asking price, local brokers say, which is contributing to the overall price increase.
One company, Invitation Homes, funded by the hedge fund Blackstone, has over the past year spent $4.5 billion to purchase about 25,000 homes in formerly distressed housing markets, including 4,000 properties here in the Phoenix area. ''
source article |
permalink |
discuss |
subscribe by:
|
RSS |
email 
Comments: Be the first to add a comment
add a comment | go to forum thread
Note: Comments may take a few minutes to show up on this page. If you go to the forum thread, however, you can see them immediately.