After spending the past weekend focused on the ending federal eviction moratorium and frightening predictions that a wave of pent-up evictions is imminent and will mostly effect lower income Americans and people of color, it was with some whiplash that I read Hanna Ziady’s story for CNN Business Monday morning.
And they don’t sound like big blocks of apartments, but rather single family developments in the suburbs.
These are large companies and institutional investors crunching the data and coming to the conclusion that despite continued low interest rates, a lot of Americans can’t afford to get into homes any more, and also guessing one lasting outcome of the pandemic will be more people working from home, and so needing or wanting a larger home.
Here’s the gist, in Ziady’s words:
Pension funds, investment firms and Wall Street banks are snapping up family homes in Europe and the United States at a rapid pace as prices rocket higher,…