USCTrojanCPA said:
test said:
Big Investors Quietly Slip Out The Back Door On Housing As "Stupid Money" Jumps In
http://www.zerohedge.com/news/2013-...slip-out-back-door-housing-stupid-money-jumps
Those 0hedge guys are funny, they always cry that the sky is falling. Sure, some of their articles are interesting and informative but they keep saying the same thing. Basically whoever traded on their recommendations or warnings would have gone broke shorting the market.
They have articles on Bloomberg and Calculated Risk now.
http://www.bloomberg.com/news/2013-...-buying-u-s-rentals-as-blackstone-adding.html
http://www.calculatedriskblog.com/
From Bloomberg:
"
Losses Reported
Companies that release financial results for single-family rental investments have reported losses as they acquired homes faster than they can renovate and find tenants.
Colony American Homes Inc., a division of Thomas Barrack Jr.?s Colony Capital LLC, has found tenants for only 51 percent of the 9,931 homes it bought for $1.4 billion, according to a filing yesterday with the U.S. Securities and Exchange Commission."
?We just don?t see the returns there that are adequate to incentivize us to continue to invest,? [Bruce] Rose, 55, chief executive officer of Carrington Holding Co. LLC, said in an interview at his Aliso Viejo, California office. ?There?s a lot of -- bluntly -- stupid money that jumped into the trade without any infrastructure, without any real capabilities and a kind of build-it-as-you-go mentality that we think is somewhat irresponsible.?