Flexner: Single-family home rental REITs under some pressure

11/21/2013 | CNBC

Single-family home rental REITs are on the right side of demographic trends in the U.S. now, says Tom Flexner, Citi Group global head of real estate. There has been a cultural shift in how people view home ownership and they are now more comfortable renting. However institutional buyers of single family homes for rent are finding it "increasingly more difficult to buy at yields that work. Single family-home REITs are under pressure" because the market is beginning to suspect there might not be long-term inorganic growth, Flexner says.

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