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re: The average 30-year fixed mortgage rate jumps to 7.50%
Posted on 4/16/24 at 3:38 pm to David_DJS
Posted on 4/16/24 at 3:38 pm to David_DJS
quote:
Large investors own somewhere between 500-700K single family homes (depending on the source). There are nearly 90 million single family homes in the US, and about 14 million are rentals. You can probably make a decent argument that large institutions are having an impact on rents, but impact on the sale/resale market is hard to see - unless you're talking about a specific zip code where they're extraordinarily active.
I'd guess they are investing in specific markets and having an impact there.
It wouldn't boost the entire market any more than house prices in Madison effect those in rural WI.
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