Wall Street landlords are back in action.
Institutional investors bought more single-family rental homes in 2017 than in previous year, the first increase since 2013, according to data compiled by Amherst Holdings LLC.
Wall Street firms such as Blackstone Group LP and Tom Barrack’s Colony Capital Inc. rushed into the single-family rental business when U.S. housing markets were reeling from the foreclosure crisis and homes were available and cheap. The feeding frenzy was short-lived. By 2014, big landlords were already paring back their purchases as foreclosures dried up and they tackled the challenge of managing widespread homes.
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