That’s concerning to U.S. Representative Mark Takano, a Democrat from California. This month he called for the Consumer Financial Protection Bureau, the Department of Housing and Urban Development, the Securities and Exchange Commission and the Treasury to report on the possible risks of “the recent increase of investor owned rental properties and the development of single-family rental-backed securities.”
Institutional investors are not going away even though their size will remain a modest part of the market, Gray said.
“We’re not selling the homes. We’re building a long-term business,” he said.