There’s one ‘huge’ opportunity in US property, CEO says
Buy to let is now a “huge” investment opportunity in the U.S. as single-family rentals surge, says John Burns, CEO of John Burns Real Estate Consulting.
- Surging home sales. “Something happened in the middle of September where the country woke up and started buying homes again.”
- Single-family renting. “The biggest shift we have seen in the last six years is these new, professionally managed single-family rental companies who have now made it a very reasonable thing to do…Almost 12% of America is renting a single-family home. Instead of renting it from some person who might be on vacation, you actually have a real company now who will take care of you as a landlord.”
- The Fed. “They used the housing market as a tool to get us through the 2001 recession if you remember. Housing is not being overbuilt right now, and so if the economy slows, I think they are going to turn to housing again and stimulate the economy with housing.”