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Big Banks Investing

As you’re making plans for 2023, if you’re wondering whether buying a home should be on your list of goals, here’s a tip… Follow the money!!! One of the largest banks recently partnered up with a build-to-rent developer and they plan to buy up to one billion dollars in residential investment properties throughout the US with the first batch of 250 single family homes near Atlanta, estimated to close in the next 30-60 days! That’s right, JP Morgan Chase is about to scoop up a ton of single family rental properties, but it’s important to understand the economics behind it. When rates are up and fears of recession are all over the news, consumers are typically the first to get scared and back out of the housing market. That’s less competition for investors who enter the market while others are waiting for rates to drop. Then when rates drop, everyone else jumps back in the market causing more competition and appreciation. While everyone that already bought while rates were high, can simply refinance and lower their payments at that time. If you need some guidance and want to just run some numbers, give us a call.