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12 Hour Home Sales


All cash, no inspection, signed contract 12 hours after the home goes on the market – Wall Street REIT’s have moved to the suburbs. Wall Street’s big investors have spent about $40 Billion buying 200,000 homes, renovating them, and building rental-management businesses according to Green Street Advisors. Blackstone’s Invitation Homes spent an average of $25,000 per home on renovation. This mass home buying began a decade ago with the financial crisis. The Middle Class couldn’t afford to buy a home so if they wanted the suburban life needed to rent. Problem is the renters were not prepared for Wall Street’s year-over-year increased earnings. Renewed leases increase 3 to 3.5%, or more. The Wall Street Journal’s assessment of renting versus buying assumed 10% down payments, 30-year fixed rate mortgages plus taxes and insurance, concluding renters were paying 32% more than the monthly ownership cost, which today is spurring home building. But if the new urban-dwelling Baby Boomers start to miss the suburbs, will it cause another paradigm shift?

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The SelectLeaders Job Barometer, published since 2006, is the foremost survey of employment opportunities, trends, and hiring practices in the commercial real estate industry.

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SelectLeaders powers the Career Centers for 9 premier real estate industry Associations (whose members control or direct 90% of commercial real estate). Jobs are from all sectors and all levels with 29% paying over $100,000. SelectLeaders Job Network offers unequalled access to the Real Estate community. To learn more visit selectleaders.com or visit our Job Network Career Centers: BOMA, CCIM, CREFC, GlobeST.com, NAIOP, NAREIM, NAREIT, NMHC, PREA, Project REAP, ULI, NRHC


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