Wall Street won big buying up homes during the foreclosure crisis and renting them out. Now, it’s headed back to the suburbs in hopes of scoring again.
With the pandemic driving demand for larger living spaces, institutional investors are pouring money into single-family rentals. In addition to buying houses on the open market, they’re bankrolling subdivisions -- inventing a new kind of suburban living that’s easier to afford, but where the financial benefits of homeownership go to Wall Street firms.