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The window is closing on being able to buy single-family houses on the cheap, Blackstone (BX)...

The window is closing on being able to buy single-family houses on the cheap, Blackstone (BX) real estate head Jon Gray tells a conference. Blackstone is the largest buyer of such property in the country, and should know, but - if cheap supply really is dwindling - why the free advice? Perhaps plans to cash out by creating REITs out of its portfolio has something to do with it.
Comments (1)
  • whidbey
    , contributor
    Comments (3391) | Send Message
     
    Will ....it is a bubble in the making - again.

     

    Few new full time jobs, low rates courtesy the Fed (they will go away in the next five years - one way or another), leads to unstable buyers who will be pressed to own a house: pay taxes on the reality, insurance and PMI, while affording Obama care taxes, and some new income taxes. Wish BX well, but no thanks to any new residential Reits. I just don't like the odds of avoiding problems over the near future. Give me consumer stocks in food energy water and pharma.
    15 Nov 2012, 11:20 AM Reply Like
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