Quote:
"While renting out houses has typically been the province
of mom-and-pop landlords,
it should come as no surprise that Wall Street wants in.
For years, a glut of foreclosures has suppressed home prices
even as tighter lending standards and a sluggish economy
have kept many buyers away.
Banks, meanwhile, still sit on huge "shadow" inventories of
foreclosed and abandoned properties,
which means fewer places for people to live.
The result of all this is a red-hot rental market—primed for speculation."
"While renting out houses has typically been the province
of mom-and-pop landlords,
it should come as no surprise that Wall Street wants in.
For years, a glut of foreclosures has suppressed home prices
even as tighter lending standards and a sluggish economy
have kept many buyers away.
Banks, meanwhile, still sit on huge "shadow" inventories of
foreclosed and abandoned properties,
which means fewer places for people to live.
The result of all this is a red-hot rental market—primed for speculation."
End Quote.
George
