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Wall Street Institutional Investors Still Betting on Las Vegas Real Estate Foreclosures. 35% Price Appreciation Last 12 Months

                                                                   
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Even though the housing market is improving, a new Morgan Stanley report says homeowners who have defaulted on their mortgage will likely have no choice but to rent, and that will result in “moving the country towards a rentership society.”

And that’s one of the big reasons why large investors are buying up so many houses so quickly.

“Looking back a year and a half ago, not one institution owned more than 1,000 single family rental homes,” says David Bragg, Managing Director at Green Street Advisors. “However, today the top six players combined own 80,000 single family rental homes.”


What they’re doing is buying these homes in blocks to turn around, put on the rental market, and resell when the market really is strong.

And Morgan Stanley predicts that number will grow in the coming years. It says the now $17 billion market will balloon to $100 billion. http://ow.ly/ohae6


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