Millions of Americans are home-hunting in the most expensive and competitive housing market in decades.
But buyers might be surprised to find out their competition isn’t other individuals or families, but giant corporations… and these corporations offer premiums over market prices to limit competition.
Yeah… your new next door neighbor could be a foreign government or a giant investment bank like Blackrock. It’s no surprise why, either— land is a highly-valued commodity nowadays.
For companies like Blackrock, buying up houses is all about demand. People will always need a place to live, and landlords are driving up rent. It’s pretty simple economics.