re: Homebuilders cancelling contracts to sell for more on market

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BlackRock and others with help from the federal reserve are buying up every house they can at prices your middle class American can’t afford. The bubble won’t burst because Black Rock won’t sell, they are turning them into single family rentals.

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However, the idea that institutional investors are somehow largely to blame for the current housing market catastrophe is wrong and obscures the real problem. Housing prices have been skyrocketing due to historically low supply, low mortgage rates, and the largest generation in American history entering the market looking for starter homes.

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According to the National Rental Home Council, a single-family home rental lobbying group, “single-family rental home companies accounted for less than 0.14 percent of homes purchased” and just 0.09 percent of net homes if you count the fact that many single-family rental investors sold homes as well.

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