November 17, 2024 2:41 pm
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Wall Street types own about 13,000 mostly rental Phoenix-area houses

for-rent-signBy Catherine Reagor | The Arizona Republic

Big investors, mostly backed by Wall Street, currently own about 13,000 houses in metro Phoenix, according to data provider The Information Market. Most of the houses are rentals, and few are for sale.

Market watchers are carefully tracking what these big owners — among them Blackstone Group, Empire Residential, American Residential, American Homes 4 Rent and Colony Residential — are doing with their Valley houses. Too many former rental homes for sale in an area could drive down prices.

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.