Five years ago, more than a dozen Wall Street hedge funds and real estate investment trusted armed with fistfuls of cash made plans to hijack the single family rental boom by spending billions to buy up thousands of foreclosures at fire sale prices.
- Five years ago, Wall Street hedge fund and real estate investors planned to hijack the single family rental business by purchasing foreclosures at a deep discount, bundling them into securities and selling them to institutional investors.
- By the end of Q1 2016, the institutional investor market share fell to 2.6 percent.
- As Wall Street’s share in rentals shrinks, it’s the beginning of the end of a bad idea.
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