![]() ![]() Related: Real Estate Fund Acquires Entire Community Of 146 Single-Family Homes In Jacksonville, FLīased on the survey data, the committee found these companies had an aggregate 27% net growth in their housing stock over the survey period, representing a total net property gain of 76,235 single-family rental homes. ![]() The committee analyzed the national-level and ZIP code-level data from each company to understand the industry and company-specific trends over time and analyzed estimate data from the U.S. The survey also requested data from each company on the timeframe for late fees, tenant income, tenant demographics, and eviction rates in the zip codes where the company owned the most rental properties. The survey requested national-level quarterly data, from March 31, 2018, through September 30, 2021, on issues such as the total number of properties each company owns, their methods of acquiring and selling homes, and the value of bonds offered to investors. Related: Jeff Bezos-Backed Arrived Homes Acquires Another $23 Million Worth Of Single-Family Rental Homes In October 2021, the subcommittee sent a survey to the five largest owners of single-family rentals in the U.S.: Invitation Homes, American Homes 4 Rent, Cerberus Capital Management’s FirstKey Homes, Pretium Partners’ Progress Residential and Amherst Residential. Related: Retail Investors Are Now Buying Shares Of Individual Rental PropertiesĪccording to the Committee Memorandum, the subcommittee's investigation found that corporate ownership of single-family rental homes rose significantly following the 2008 financial crisis, growing 3% annually since 2010, with the fastest year-over-year increase being in the third quarter of 2021. (NYSE: INVH) and American Homes 4 Rent (NYSE: AMH). Two high-profile targets of the committee’s recent investigations include real estate investment trusts (REITs) Invitation Homes Inc. This removes from the housing market, homes that might otherwise have been purchased by individual homeowners.” The House Committee on Financial Services, led by Chairwoman Maxine Waters, Subcommittee on Oversight and Investigations held a hearing on June 28, 2022, entitled, “Where Have All the Houses Gone? Private Equity, Single Family Rentals, and America’s Neighborhoods.”Īccording to the subcommittee chair, Al Green, the committee found that “private equity companies have bought up hundreds of thousands of single-family homes and placed them on the rental market. ![]()
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