A bidding war broke out this winter at a new subdivision north of Houston, The Wall Street Journal reports today [subscription required]. But the prize this time was the entire subdivision, not just a single suburban house, illustrating the rise of big investors as a potent new force in the U.S. housing market.
The Millionacres takeaway: In this case, it was Fundrise, the online property-investing platform, that paid D.R. Horton (NYSE: DHI) well over what the builder had expected for the 124 rental homes. That’s serious competition for young couples or empty nesters trying to buy in many places but good news for investors who can capitalize on that new trend.