New York Times - The Great Wall Street Housing Grab

[Admiral Beez]

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The Great Wall Street Housing Grab

Hundreds of thousands of single-family homes are now in the hands of giant companies — squeezing renters for revenue and putting the American dream even further out of reach.

www.nytimes.com

This article, IMO is more about this guy's terrible life decisions.... unstable marriage, buying more house than he could afford, etc. But still it's noteworthy that Wall Street is buying up homes and removing the chances of ownership.

 

[TRONto]

I agree. Article is a rehash of articles from 5 years ago. As noted, I've heard over and over that the corporate landlords are not taking care of these homes. There will come a time when the bad operators go bust and all these bad condition housing will be on the market at the same time depressing values and creating a buying opportunity.
Also, we got plenty of bad apartment corporate landlords here according to the bad.

 

[Jonny5]

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The Great Wall Street Housing Grab

Hundreds of thousands of single-family homes are now in the hands of giant companies — squeezing renters for revenue and putting the American dream even further out of reach.

www.nytimes.com

This article, IMO is more about this guy's terrible life decisions.... unstable marriage, buying more house than he could afford, etc. But still it's noteworthy that Wall Street is buying up homes and removing the chances of ownership.

"Wall Street" here is really pension funds, foundations, and endowments dumping money into real estate funds. both public and private, because there's no yield on government or high quality corporate bonds anymore. They indiscriminately allocate the money to funds who have to dump it into something "real estate," so a huge slosh of cash is available out there to buy up these income generating properties. The actual investor is often three or four levels removed by consultants, asset managers, fund managers and actual property owners. They have no way to see what's happening at the rentor level even if they tried.