Updated almost 3 years ago on . Most recent reply
#2 Rehabbing & House Flipping Contributor
- Residential Real Estate Agent
- Irvine, CA
- 1,304
- Votes |
- 2,531
- Posts
JPMorgan is about to spend $1 billion, hundreds of homes to rent
#2 Rehabbing & House Flipping Contributor
- Residential Real Estate Agent
- Irvine, CA
What is everyone's thoughts on this? We are turning to a renter nation, and big companies are still jumping on board in different times.. The market has changed and even with the change, a company like Chase is saying let's get more properties to rent them out and make cashflow for business. The is something a lot of people talk about in bigger companies and across the US on where the whole nation will be with renter/verse homeowner.
This article talks about 250 homes around Atlanta in the first 90 days of this joint venture, and it would be a build-to-rent.. They are not the first ones of course, but another large business at the same model.
https://www.businessinsider.co...- Peter Mckernan
Most Popular Reply
This Federal Reserve of St. Louis chart shows Historical homeownership. As someone pointed out, $1B does not make much of a dent in the housing industry. Maybe 100 or 500 times that. Maybe. American Homes for Rent, per their last 10-Q, has $12.2B (Billion) in single family homes that they use as rentals, up almost a Billion from last year. Granted, AH4R isn't doing build-to-rent, but they did buy new homes off MLS when they started buying in Raleigh back in 2012. The second image shows the first few houses AH4R bought... bank owned and new construction sitting on the market for a long time, because back then (only 10 years ago) there was a ton of inventory on the market. So, to summarize my view, the article is a big yawn. Homeownership rates will bounce around, but the US is hardly going to become a renter nation.
