Biggest investor: 24,000 homes in one yearMay 2, 2013 @ 8:06 am
Blackstone Group, the nation's largest private real estate owner, has bought up 24,000 homes across the country in just one year.
Some housing experts say that now that so many markets are in a low-inventory situation, big investors like Blackstone could corner the market and turn many properties into rentals, thereby shutting out individual buyers.
A spokesman for Blackstone's Invitation Homes hedge fund told a CBS station that the company is helping to meet the growing demand for single-family rentals and added that the company tends to have more money to renovate the homes it purchases than the traditional investor.
The Seahawks have returned to Renton, but not all of them as Danny O'Neil explains
On the Eastside
An on-going investigation underscores a growing sex-trafficking problem in Bellevue
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.