Real Estate
Wall Street’s $85 Billion Housing Bet Intensifies U.S. Land Boom
Investors are snapping up lots to build an empire of suburban rental homes.
A build-for-rent home in Pell City, Alabama, owned by Transcendent Electra Management.
Source: Transcendent Electra
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For the U.S., the housing shortage is a crisis. For Wall Street, it’s a land rush.
Institutional investors from JPMorgan Chase & Co. and Morgan Stanley to the Arizona State Retirement System are pouring billions into their next big housing bet: building communities of single-family homes in the suburbs for renters getting priced out of homeownership.