Blackstone and other hedge funds have been gobbling up houses since the last downturn. With all the easy money they have accelerated their purchases during the pandemic.
So the previous home owners have much more to offer when they start looking in The Villages.
Here is one example:
Dezember recalls a three-bedroom, two-bath home in Spring Hill, Tennessee, that went on the market in April 2017. In the strong, fast-growing market, the seller had four bids on the house within hours.
“The high bid of $208,000 came from a couple with a child looking for their first house,” Dezember writes. “American Homes 4 Rent matched their offer, all cash.”
American Homes got the house, the seventh it had purchased on that street.
Corporations are buying houses — robbing families of American Dream