Interestingly, Blackrock is not the biggest Wall Street Homebuyer. Instead, it’s Opendoor, the largest Home Flipper in America. Opendoor is projecting a $150 Million Losses in Q3 2022. Meanwhile, other iBuyers like Offerpad and Redfin are also struggling. These companies overpaid for Homes and are now having to cut the price to offload inventory.
Higher Mortgage Rates, Inflation, and Federal Reserve Interest Rate Hikes are creating issues for these Wall Street Buyers. Regular homebuyers will have an opportunity to profit off these losses. Especially in metros such as Phoenix, Dallas, and Atlanta, where Investor Home Purchases are the highest.
Why are Investors so scared of the 2022 Housing Market? Well, it’s increasingly difficult to turn a profit as a real estate investor. Not only are values now going down, but rental profits have also declined in the last several years. And now that Jerome Powell is continuing to hike interest rates, that means the cost of Debt for these Wall Street Landlords is surging. Add in a surge in evictions and there are big problems brewing for Corporate Landlords and Real Estate Investors.
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