“Last week, Gray said Blackstone now owns 2,000 single-family homes. At $300 million, that might be small compared to Blackstone's overall real estate portfolio of about $50 billion. But it's one of the biggest piles of homes ever intentionally put together (banks and Fannie and Freddie are sitting on many more foreclosed homes, but that's a different story) by an institutional investor, and it's likely not the largest portfolio out there these days.”
–as published in FORTUNE
Continued Improvement in Home Pricing?
“Home prices in the second quarter rose from the year-ago period for the first time since 2007, according to a closely watched index, the latest indication the housing market is starting to recover.” – as published in WSJ Read Wall Street Journal article here.
NAHB (National Association of Home Builders)"The NAHB/Wells Fargo Housing Market Index (HMI) and the NAHB/First American Improving Markets Index (IMI) – which have all shown measurable signs of improvement during the past several months."
"The HMI, which measures builder confidence in the single-family market, now stands at its highest level since March of 2007. Meanwhile, the IMI, which identifies local housing markets that have shown measurable and sustained improvement, has jumped from 12 markets when the index was first unveiled last September to 84 as of July. Moreover, production of single-family homes is now the strongest it has been since 2010 due to rising consumer demand brought on by improving market conditions."
- Barry Rutenberg, 2012 NAHB Chairman