{"id":42353,"date":"2023-02-23T08:05:21","date_gmt":"2023-02-22T19:05:21","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=42353"},"modified":"2023-02-23T08:05:21","modified_gmt":"2023-02-22T19:05:21","slug":"why-wall-street-is-buying-so-many-u-s-homes-watch","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/why-wall-street-is-buying-so-many-u-s-homes-watch\/","title":{"rendered":"Why Wall Street is buying so many U.S. homes | WATCH"},"content":{"rendered":"

PHOTO: In recent years, a small but mighty group of corporations bought hundreds of thousands of homes in sunbelt-region suburbs.<\/strong><\/p>\n

Some Washington D.C. lawmakers want to limit Wall Street’s role in the housing market.\u00a0 These homes are traditionally a crucial investment for American families. But rising home prices are shutting would-be homebuyers out of the market. Meanwhile, financial groups are profiting from rising rents while their subsidiaries build small amounts of new standalone homes in the U.S.<\/p>\n

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Since the early 2010s, Tricon Residential, Progress Residential, American Homes 4 Rent, Invitation Homes have each bought thousands of homes. They’ve also added to the housing supply in some cases with built-for-rent communities. Some of these companies are financed by private equity firms like Blackstone and investment managers like Pretium Partners.<\/p>\n

“It’s almost a captive market” said Jordan Ash, director of Labor-Jobs and Housing at the Private Equity Stakeholder Project. “They’ve been very explicit about how people are shut out of the homebuying market and are going to be perpetual renters.”<\/p>\n