Betting against the American Dream was once considered heretical. How times have changed!
The cornerstone of the “dream” has always been homeownership. But with a lag in home building starts combined with Americans’ bad credit ratings and lack of savings, two of the largest rental-home owners are betting that rentals will be the wave of the future and that homeownership will no longer be an essential part of the American Dream.
Blackstone Group and Starwood Waypoint Home (under their banner Invitation Homes) are planning to merge, creating a company that will own about 82,000 homes in 17 metro areas. The combined company will become the country’s largest private owner of single-family homes.
The merger will make Invitation Homes a major landlord in areas such as Miami, the Southern California suburbs, and Tampa Bay.
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Consider investing in a professionally managed portfolio of single-family homes? Please contact Harold Willig at email@example.com or 917-209-4452.
Harold Willig is the Manager of SpringView Investment Management, LLC, which he founded in 2012. Mr. Willig also served as HFZ Capital Group’s Chief Financial Officer, and was responsible for the oversight of HFZ's Finance and Accounting team. He has over 16 years of finance and accounting experience.
Mr. Willig also ran a consulting practice and provided valuation, analysis, and transactional support services to multi-billion dollar real estate companies. Previously, Mr. Willig served as the Senior Controller and Vice President of Financial Analysis and then the Chief Financial Officer of the Athena Group, a multifamily development company and fund manager.