Blackstone Shifts Its Strategy
Over the past year, Blackstone has been on a major single-family home buying spree in 76 markets across the country. But Blackstone-owned Home Partners of America, one of the biggest private landlords in the US, is now planning to halt single-family home purchases in 38 of those markets by the end of September.
Here’s what you need to know:
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Our take |
Blackstone and these Wall Street investors are strongly impacted by inflation. It’s no wonder they’re pausing some activity until inflation numbers start to improve. They approach real estate the way every investor should— they look for opportunities both when the market is up and when it’s down. They’re pulling back from some markets and focusing on others where they see more opportunity, but when activity in these smaller markets resumes, you can bet they’ll be back at it.
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