The Washington Post reports on big buyers in the US residential real estate market, saying “hedge funds, Wall Street investors and other institutions are crowding out individual home buyers”.
- Real estate executives say institutional investors … account for as much as 70 percent of sales in some Florida markets
- For example, Title Capital Management has nearly 50 analysts and lawyers, and bids on about 200 houses a day
- Blackstone has a portfolio of 20,000 rental homes
Delavaco Residential Property Trust… is able to scoop up many homes for $60,000 or $70,000, which is just a fraction of the building costs. After making repairs, the company rents them out for as much as $1,700 a month
Wall Street betting billions on single-family homes in distressed markets
