Wall Street Investor bought THE ENTIRE BLOCK of Houses

Progress Residential just purchased an entire block of houses outside of Phoenix from a home builder called Meritage Homes. These are 3-bedroom houses now on the market for rent at $2,100-$2,400/month.

Progress Residential is a big Wall Street investor that is a private fund that buys up houses and rents them out. What's unfortunate is that in this neighborhood regular home buyers were locked out of the market for these homes.

Interestingly - investor purchases in the housing market have declined significantly since their peak during the pandemic. Especially in housing markets like Phoenix and Las Vegas.

However, clearly, some investors like Progress Residential are still buying.
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