After gorging on subprime mortgages 10 years ago, Wall Street is investing in the U.S. housing market again — this time by snatching up homes. Investment banks, private-equity firms and hedge funds are turning to a variety of financial vehicles and building the technology to become the largest buyers of most Americans’ biggest asset.
Invitation Homes — a real estate investment firm that owns close to 50,000 single-family rental homes — has raised $1.54 billion in its initial public offering, with the company’s valuation rising to over $6 billion today, according to media reports.
The government has begun subsidizing the institutionalized single-family rental market, signaling an endorsement of Wall Street’s buy-to-rent housing bet as homeownership lags.
What do Wells Fargo, Yelp CEO Jeremy Stoppelman, Deutsche Bank, reddit co-founder Aleix Ohanian, Blackstone and Joshua Kushner (yes, the brother of President-elect Donald Trump’s son-in-law, Jared Kushner) have in common?
After purchasing tens of thousands of homes at post-recession prices, Blackstone Group LP — the biggest U.S. single-family home landlord — is taking Invitation Homes, its single-family rental unit, public.
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.
Who joined forces in the real estate industry in September to help agents up their game? Here’s our rundown, in chronological order.
The space got crowded, but now we are entering a more healthy market, and there just isn’t room for everyone in the new normal. I spoke to a great audience of REO brokers this morning at the National REO Brokers Association conference and was very enthused about their response to the information I am about to share.