“On average, house prices in the U.S. have
jumped 85% over the past decade, according to the Office of Federal Housing
Enterprise Oversight. Prices have soared largely because low interest rates have
cut the cost of financing a home. In coastal areas, the rise has been far
steeper. In California, for example, prices have more than doubled in just the
past five years.”
jumped 85% over the past decade, according to the Office of Federal Housing
Enterprise Oversight. Prices have soared largely because low interest rates have
cut the cost of financing a home. In coastal areas, the rise has been far
steeper. In California, for example, prices have more than doubled in just the
past five years.”
“This year,
the 38-year-old Mr. Lee says he plans to buy more than 1,000 homes for Redbrick
Partners LP, a New York firm he runs with the help of an MIT economist to invest
in single-family rental property. What millions of mom-and-pop landlords do
locally, Redbrick is trying to do on a grander
scale.”
What this group is trying
to do is interesting, risky and a bit over-the-top. It will probably succeed. If
anyone out there wants to investigate doing this in my market, please let me
know. We can, as I often like to do, borrow others’ knowledge and apply it for
our purposes. WSJ (link good for 7 days)
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