Institutional firms are pulling back from the U.S. housing market [View all]

FINANCE HOUSING

Institutional firms are pulling back from the U.S. housing market—just look at Starwood’s decision to shop 2,000 single-family rentals

https://fortune.com/2023/06/18/housing-market-loses-appeal-for-wall-street-type-home-buyer/amp/

The financial return on each additional home added just isn't that great right now.

BY LANCE LAMBERT
June 18, 2023 5:25 PM EDT

Starwood Capital CEO Barry Sternlicht doesn’t hold back on his Federal Reserve criticism: On multiple occasions he’s told CNBC anchors that the central bank’s aggressive interest rate hikes could soon spur a deep recession.

It’s easy to see why Sternlicht is so openly critical of the Fed: Starwood primarily invests in real estate, where the Fed’s interest rate hikes have already caused a great deal of economic pain.

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