FAIRFIELD-SUISUN, CALIFORNIA
Wall Street and corporate flippers see opportunity in buying up single-family houses, but a viable business model has eluded them. (Dreamstime/TNS)
Neal Templin: Will home buyers have to outbid institutional money?
Neal Templin, Rate.com
Coming out of the financial collapse a decade ago, when home foreclosures hit record numbers, Wall Street began buying up hundreds of thousands of single-family homes (SFH). Institutional money had long ago come to dominate ownership of U.S. apartments, but the SFH, which accounts for the great bulk of the more than $30 trillion in housing value in the country, hadn’t before drawn this level of interest.