Real Estate

The Real Word: Is Blackstone Deal A Sign The Market Will Stay Hot?

Byron Lazine and Nicole White are two agents in Connecticut who give us their thoughts on the week’s news every Friday in “The Real Word,” a weekly video column on Inman.

Blackstone Group Inc. is buying a company that buys and rents single-family homes in a $6 billion deal. According to The Wall Street Journal, that might be “a sign Wall Street believes the U.S. housing market is going to stay hot.”

Byron and Nicole discussed Blackstone’s decision and the perks of investing in single-family rental operators, especially in this crazy, inventory-starved market.

“I don’t think this is a racket,” Byron said. ” … I believe this real estate market for single-family homes is going to stay hot for a long time.” Later, he added, “Millennials are going to continue to buy, and I think that’s going to continue to drive this market.”

More this week: With today’s inventory shortage, even nightmare houses are selling. Realtor magazine reported that a “formerly majestic” abandoned home in Colorado Springs has received multiple offers — despite the listing’s graffiti-covered surfaces, floors and walls, its dead-body-like odor and a host of other flaws that should’ve been deal-breakers.

Marketeer of the week

This week’s episode of The Real Word covered the 2021 Agent Rankings from Real Trends. Byron and Nicole discussed the top 10 mega teams for transactions and top 10 individual agents.

Want to nominate a “marketeer of the week”? Drop your thoughts in the comments section below, or shoot us an email.

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