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Construction Boom: Built-For-Rent Homes Soar By 20% In Early 2024 With 18,000 New Units [Yahoo! Finance]
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This new trend, known as built-to-rent, is primarily concentrated in major metros like Phoenix and Atlanta but is spreading to all regions. According to the National Association of Home Builders (NAHB), construction of 18,000 single-family built-for-rent homes started in the first quarter, a 20% spike over the same time a year ago. Don't Miss: If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it Elon Musk has reportedly bought 6,000 acres of land just outside of this city. Here's how to invest in its growth before he floods it with new tech workers. "When mortgage rates move higher, and it's harder to buy a home, renting becomes more of an option," NAHB Chief Economist Robert Dietz told CNBC. Built-for-rent communities are clusters of single-family rental homes in a professionally managed community with amenities such as swimming pools, tennis courts and dog parks. With no maintenance costs, homeowners asso
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