Renters are managing soaring rents by opting to buy the homes they stay in, with help from large rental firms such as Blackstone and American Homes 4 Rent
Thu, Jul 07, 2016 - 5:50 AM
Blackstone Group's Invitation Homes is the first of large rental firms to give residents a shot at owning their homes, benefiting from having its own pool of ready buyers who are constrained by a market starved for affordable homes.
MELISSA Suniga and her mother had been renting a three-bedroom Phoenix house for less than a year when their landlord, Blackstone Group's Invitation Homes, gave them the chance to buy it.
Ms Suniga, a 40-year-old childcare worker, used her security deposit and US$2,000...