Major Rental-Home Companies Set to Merge as U.S. House Prices Recover #investment #realestate #wealth

Source:  New York Times

After the housing market collapsed more than a decade ago, new investors poured in to buy foreclosed homes and rent them out.  Now, a $4.3 billion deal suggests that the bargain-hunting binge in housing is finally over.

Two of the biggest institutional single-family landlords in the United States said Thursday that they planned to merge, an indication that the housing market has recovered much of the ground it lost in the financial crisis.  And as home prices rise in many areas, affordable housing, for deep-pocketed investors and young first-time buyers alike, is becoming harder to find.

The two institutional landlords, Invitation Homes, a rental business spun out of the private equity giant the Blackstone Group, and Starwood Waypoint Homes said they would combine to create an entity with about 82,000 homes in more than a dozen big markets.

Check out the full story here:
https://www.nytimes.com/2017/08/10/business/dealbook/starwood-waypoint-merger-blackstone.html?rref=collection%2Fsectioncollection%2Frealestate

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