Posted To: Pipeline PressIf anyone asks you, "Whatever happened to that Shadow Inventory we were all concerned about?" you can respond that part of it is being soaked up by large funds buying single family properties. "JPMorgan Entices Millionaires to Become Landlords" is one such program where Bloomberg reports , "JPMorgan Chase & Co. is giving its wealthiest clients the chance to invest in the single-family rental market after other investments linked to the U.S. housing recovery jumped in value. The firms unit that caters to individuals and families with more than $5 million, put client money in a partnership that bought more than 5,000 single family homes to rent in Florida, Arizona, Nevada and California, said David Lyon, a managing director and investment specialist at J.P. Morgan Private Bank. Investors...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
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