C.A.R. raises concerns with Freddie's Move to Back Investors #investment #realestate #wealth

Source:  Housing Wire

Home sellers in the second quarter of this year sold their properties for an average $51,000 more than they paid for them when they bought them.  That's the highest price gain for sellers since the second quarter of 2007, when it was $57,000, according to a new report by real estate data form ATTOM Data Solutions.  This represents an average return on investment of 26 percent.

The California Association of REALTORS called out Freddie Mac's pending entrance into the single-family home rental market, saying the move goes directly against helping homebuyers.

The issue goes back to the end of July when Freddie Mac announced it would follow a recent initiative from Fannie Mae.  However, Freddie would have a bigger focus on affordable housing.

Fannie Mae jumped into the arena first earlier this year and agreed to backstop up to $1 billion in debt for Invitation Homes, the largest owner of single-family rental homes in the U.S.

But Freddie isn't going to go about it the same way as Fannie, boasting that it's targeting a different part the single-family home-rental market.

Check out the full story here:
https://www.housingwire.com/articles/40943-california-realtors-to-freddie-dont-support-investors-in-the-single-family-home-rental-market

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