By: Kenneth

Kenneth — Tue, 19 Feb 2013 06:19:13 +0000

Have to be blunt, but someone is blowing smoke up something else. “slightly optimistic prediction” dreaming is more like it. Look at the article you previously posted. Hedge fund buys 10,000 homes for rentals. Btw, I did post the source for that article in the comment section. Further, review the article, he purchased 10k AND he already owns more. Blackstone, the largest U.S. private real estate owner and the only firm with more homes than Hughes, has spent $3 billion on rentals, Jonathan Gray, Blackstone’s global head of real estate said today at a Credit Suisse Financial Services Forum in Miami. Blackstone said last month it spent $2.7 billion on 17,000 properties, accelerating purchases as prices rose faster than anticipated.
Further, transactions involving investors jumped 75 percent in November from a year earlier in 25 metropolitan areas tracked by Radar Logic Inc. It’s a market that could total 12 million homes, JPMorgan analysts led by Anthony Paolone wrote in a note last month.
Additionally, watch the Hedge Funds:
-Colony Capital LLC, a Santa Monica, California-based firm headed by Thomas Barrack, has bought more than 8,000 homes.
-Citigroup extended a $245 million line of credit in October to Waypoint Homes, an Oakland, California-based firm that owns more than 3,000 rental homes and expects to have 10,000 by the end of 2013.
On and on it goes…. this is why the prices have gone up, and inventory has gone down. Further are the limits on Banks loans loss, the Feds buying Mortgage Notes supplied by the largest Banks…. Foreclosure crisis at the end or even half way there…. Not on your life.

Comments on: RealtyTrac: Foreclosure Crisis “Well Past It’s Peak”

By: Kenneth