I don’t see what the problem here is. Blackstone doesn’t seem to be cashing out and selling their portfolio. They were active in high distress areas and bought distressed homes primarily sfh around 200k or lower. If it all, it proves.
1. Shadow inventory was a myth.
2. Institutions were active in the residential markets not just as flippers but as landlords. But we already knew this. Some of us suspected blackstone was active in MM buying inventory in 2010-2011.
If at all, it means its major suckville for folks trying to buy in those areas affordable housing or cash flow residentials because now you have one more 800lb gorilla to deal with
