How Wall Street Became Your Landlord: The Rise and Controversy of Invitation Homes
pplpod · pplpod
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Show Notes
In this episode of pplpod, we examine the history and business model of Invitation Homes, the largest owner of single-family rental homes in the United States. We discuss how the company was formed in 2012 by private equity giant Blackstone to purchase thousands of distressed houses following the subprime mortgage crisis.
Join us as we explore how Invitation Homes securitized rental income into bonds and expanded its portfolio to approximately 84,000 homes in major markets like Atlanta, Phoenix, and California,. We also analyze the significant criticism the company has faced from housing advocates and tenants, including reports of aggressive eviction practices, excessive rent hikes, and maintenance failures ranging from toxic mold to sewage leaks,,. Finally, we cover the company’s recent $48 million settlement with the FTC regarding allegations of deceptive junk fees and unfair withholding of security deposits.