blackstone financing 5+ homes commercial loans
1st they gobbled up homes by the truckloads in certain markets (bigger homes, which don't cash flow that well but research shows vacancies are at 4-5 years) and now introduce loans to landlords to further flood the market.
I ask myself, "why would they want to help their rental competition?" it just doesn't makes sense unless they're doing this rental thing as a short-term (3-5 years) gig.
and we also know, they are dumping 20% of their inventory on the west coast where last year's appreciation was phenomenal.
quite a few of their homes are near where I live...the taxes alone are $9k a year. the rents are anywhere from $1700-$2k.
none of this makes sense...so my only reasoning is, they're trying to boost the appreciation by further tightening inventory.
CNBC doesn't comment this might be happening when they broadcasted it. am I off base here or are they actually helping the recovery?