The local girls holding it down backstage at @untappedfest yesterday. @aslimeme @wildmoccasins @thetontons @bamitskam @thesuffers #untappedhouston #sfrs #thesuffers #thetontons #wildmoccasins (at Discovery Green)
Six years after the financial crisis, Wall Street’s housing alchemy engine is revving up again – only this time it’s coming for your rental.
Right as housing prices bottomed out around January 2012, large institutional investors began buying distressed properties in regions hit hard by the foreclosure crisis; they’ve purchased at least 200,000 to date.
In only a year, private equity giant Blackstone Group went from owning no single-family rental properties (SFRs) to being the U.S.’ single largest landlord.
Now, several companies, including Blackstone, are packaging their SFRs into bonds similar to the mortgage backed securities that fueled the financial crisis.