By Gillian Tan : bloomberg – excerpt

Funds managed by Invesco Real Estate are backing Mynd Management to spend as much as $5 billion, including debt, purchasing about 20,000 single-family rental homes in the U.S. in the next three years.

The partnership marks a “significant moment” for the single-family rental industry, Doug Brien, chief executive officer and co-founder of Mynd, said in an interview. More than half of the country’s multifamily properties are owned by institutional investors compared with an estimated ownership of 2% to 3% of single-family rentals, a gap that he expects to narrow in time.

“As traditional commercial real estate investors that invested in multifamily as their key strategy have moved into single-family rental, we’re seeing the market flooded with institutional capital,” Brien said. He acknowledged that dynamic will make it more competitive for Mynd to find properties, but touted its data-driven technology as better enabling it to make offers across the U.S…(more)

Could the rush to invest in single family homes be driven by the billions of dollars being pushed into political machines intent on up-zoning and gentrifying those neighborhoods?  Easy to drive up the prices so that individual homeowners cannot afford to buy, when governments allow by-right laws to remove all obstacles from the density plans. Will the American public figure this out in time to stop it?