From a recent LA Times article
“After buying tens of thousands of single-family homes in beaten-down markets, major investment firms have quickly become major landlords”
New research from Morgan Stanley predicts that the buy-to-rent sector will grow from $17 billion now to $100 billion over the next several years. These companies have proved the business model viable and will be able to get debt financing to grow their stake in the suburbs, the analysts wrote.
Read more on Here we go again…
The housing market has finally improved and it looks like the worst is behind us. However if the Washington dummies fail to resolve the fiscal cliff, housing is in trouble.
Fiscal cliff could cost the U.S. two million jobs next year and cause the unemployment rate to stay stubbornly stuck above 8% through 2014. Fewer jobs could translate into less demand for new homes, possibly even a new wave of foreclosure filings as newly unemployed workers struggle to make mortgage payments.
Read more on The fiscal cliff and housing…