"Let''s Tap The Brakes" - America''s Largest Landlords Pull Back From Home-Buying-Spree
"Let''s Tap The Brakes" - America''s Largest Landlords Pull Back From Home-Buying-Spree America''s largest landlords have changed course as the highest interest rate increases in decades to squash rising inflation has slowed down acquisitions of single-family homes . KKR Co.''s My Community Homes, American Homes 4 Rent, and Amherst Holdings have reduced home buying in recent weeks , according to Bloomberg , citing people familiar with the efforts. The people, who asked not to be named, said some institutional buyers slashed buying activity by more than 50%. Mynd Management, a real estate platform that helps investors find, buy, lease, manage, and sell residential investment properties, has advised institutional clients to dial back acquisitions and wait for housing prices to readjust to the interest rate shock . In an interview, Mynd''s CEO Doug Brien told Bloomberg that market conditions could improve in the fall as "buying opportunities" emerge. He said, for the time being, "let''s tap the brakes and watch the markets." Brien''s ''wait and see approach'' comes as the Biden admin''s intention to crush the housing market (with the help of the Federal Reserve''s rate hikes) and spark a powerful recession to combat the highest inflation in forty years.
"Let''s Tap The Brakes" - America''s Largest Landlords Pull Back From Home-Buying-Spree
"Let''s Tap The Brakes" - America''s Largest Landlords Pull Back From Home-Buying-Spree America''s largest landlords have changed course as the highest interest rate increases in decades to squash rising inflation has slowed down acquisitions of single-family homes . KKR Co.''s My Community Homes, American Homes 4 Rent, and Amherst Holdings have reduced home buying in recent weeks , according to Bloomberg , citing people familiar with the efforts. The people, who asked not to be named, said some institutional buyers slashed buying activity by more than 50%. Mynd Management, a real estate platform that helps investors find, buy, lease, manage, and sell residential investment properties, has advised institutional clients to dial back acquisitions and wait for housing prices to readjust to the interest rate shock . In an interview, Mynd''s CEO Doug Brien told Bloomberg that market conditions could improve in the fall as "buying opportunities" emerge. He said, for the time being, "let''s tap the brakes and watch the markets." Brien''s ''wait and see approach'' comes as the Biden admin''s intention to crush the housing market (with the help of the Federal Reserve''s rate hikes) and spark a powerful recession to combat the highest inflation in forty years.