There’s a report out that the feds are about to announce a new program to sell off about 250,000 foreclosed homes to investors for rentals. The homes are now held by Fannie Mae, Freddie Mac and the FHA.
No figures are available yet about how many Massachusetts homes might be involved. One assumes there has to be at least a couple thousand here.
The idea of selling the homes to investors for rental purposes appears to be somewhat unique. It could help drive down rental prices. Then again, by driving down rental prices, it might make it less attractive for many to want to buy homes. Would that help the market? Not really.
Remember: For every action there’s a reaction.