Homes

Institutional investors like big banks started buying single family homes to rent but they are now selling. The rise in property taxes and insurance have caused these investments to lose their shine. They expect the price of homes to drop and their selling will bring that about. It is a self-fulfilling prophecy. Many like Blackstone are selling at a loss and this is expected to continue. Even the most sophisticated investors can sometimes misjudge the market. This will be welcome news for young people who are trying to become first time home buyers