Legal Chee$e

Is Single Family Rent-to-Own, legally even cheese? ??

According to Google: “Because of Provel's moisture content, it cannot be labeled as #cheese in the U.S. Instead it is labeled as "pasteurized process cheese". Even though it is processed cheese, it is closer to being a real cheese than most cheeses labeled as American Cheese.”

Sounds oddly like Single Family Rent to Own. Because of poor conversion rate(s) across the Industry from renting to ownership, it cannot be labeled as a real path to #homeownership. Instead it is labeled as "Institutional Investing". Even though it is processed rental disguised as homeownership it is closer to being real cheese than most cheeses labeled as American Cheese. If you're from the #STL. You know, the struggle is real. ??

If you're from anywhere else you also know that the struggle is real. Every month. When rent is due. Invitation Group, owned by Blackstone reportedly converts +/-6% of it's total portfolio from rental to ownership. 6?? PERCENT. This number graciously provided by one of Invitation Homes's competitors that employs their former employees……………….. I can’t tell you which one. Here’s a hint though: It’s the one that didn’t receive a $1 billion, ten-year, interest-only loan backed by TAXPAYER money from #FannieMae to subvert +/-33% of the nation’s housing and generational wealth.

Sometime following the announcement the Urban Institute’s Housing Finance Policy Center, issued its report “GSE Financing of Single-Family Rentals: What Have We Learned from the Invitation Homes Deal?” https://lnkd.in/g7n_yFTU

So, what have we learned?

I’m asking.

You.