Central Florida sees increase of for-rent communities
These neighborhoods are fill of houses, but none of them are for sale.
Source: wesh.com
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American Homes 4 Rent to Build 279-Home Pine Grove Community in St. Cloud, Florida
Share this article Share this article CALABASAS, Calif., April 13, 2021 /PRNewswire/ -- American Homes 4 Rent (NYSE: AMH), a leading provider of high-quality single-family homes for rent, announced today that it recently closed on 94 acres in northeast St. Cloud, Fla., and plans to develop a new community named Pine Grove that will feature 279 single-family homes for lease with extensive community amenities. This marks the fourth significant land transaction by AH4R in the Orlando market in recent months. When combined with other recent purchases in Apopka, Mascotte and St. Cloud, AH4R has ...
Source: prnewswire.com
Rental home construction climbs as purchase prices surge
There haven't been so many single-family homes under construction in the U.S. since 2007, yet many of these new houses won't be for sale. Investors are building tens of thousands of houses expressly to rent in a bet that Americans will keep flocking to spacious suburban living even if they can't afford to buy homes. The Covid-19 pandemic sparked a race for space among Americans, and home prices have surged to records. The gains have outpaced wage growth, straining affordability despite historically low borrowing costs. Homeownership is unaffordable for average wage earners in 55% of U.S. coun...
Source: foxbusiness.com