Posted by: realtormarkpalace | September 30, 2010

Bank of America Urges Funding for Investors

Analysts from Bank of America have proposed that instead of further funding TARP to help distressed home owners hold onto their properties that the money go to property management companies, which would turn the properties into rentals.

In a recent research paper, Bank of America analysts suggested that the government spend as much as $400 billion to encourage property management companies to buy properties and rent them out, bringing the homeownership level to “a more natural level of 62 percent to 64 percent” from its current 67 percent. The investors would be prevented from reselling the properties quickly.

Source: The Wall Street Journal, Emily Peck (09/27/2010)


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