When looking at the Wall Street companies buying up homes, you have a small list of corporations that have shaped this growing trend. One of the first companies to make waves in this market is Blackstone
. In 2012, Blackstone purchased Invitation Homes, a rental company owning around 80,000 homes. In 2019, Blackstone sold Invitation Homes, only to purchase Home Partners of America in 2021. Since then, Blackstone has been an active powerhouse in the American home market.
Other large companies in the American home market are J.P. Morgan
Asset Management, Goldman Sachs
, Mynd Management, Pretium, and American Homes 4 Rent. These companies have bought and rented out tens of thousands of single-family homes for the past three years. American Homes 4 Rent, for example, owned over 52,000 homes in 2019, operating in over 22 states, with the largest concentration in Atlanta, Georgia.
Top 5 States for Investor Homes
Position State Percentage of Homes Sold by Investors in 2021
1 Georgia 33%
2 Arizona 31%
3 Nevada 30%
4 California 29%
5 Texas 29%
Might the fact that corporate investors snapped up 15 percent of U.S. homes for sale in the first quarter of this year have something to do with it? The Wall Street Journal
reported in April that an investment firm won a bidding war to purchase an entire neighborhood worth of single-family homes in Conroe, Texas.
Let’s focus on Invitation Homes, a $21 billion publicly traded company that was spun off from Blackstone
, the world’s largest private equity company. Invitation Homes bought 90 percent of the homes for sale in some ZIP codes in Atlanta.
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