With rental rates higher than ever, it would be naïve to expect an onslaught of conversions
By Steve Cookby |inman
Recently speculation has mounted that conditions are right for significant portion of the 5.4 million single family homes that switched from ownership top rentals during the foreclosure era to return to the fold like prodigal children now that inventories are running on empty.
Prices are right, the thinking goes, and by now all those small investors who put their money into rental real estate must be tired of being landlords. Now they can recoup their principal and pocket a nice profit without ever cleaning up after another messy tenant again.
You’ve got to be kidding me.