From CNBC: The once-beleaguered Las Vegas housing market has been on fire since investment firms led by Blackstone Group, Colony Capital, and American Homes 4 Rent began buying homes here some eight months ago, backed by $8 billion in investor cash to spend nationally.
These big investors and a handful of others have bought at least 55,000 single-family homes across the
U.S. in the past year. In the Vegas
area alone, they have accounted for at least 10 percent of the homes sold since
January 2012, according to a Reuters analysis of housing transactions.
That added firepower helps explain why home prices in this metropolitan area of 2 million people are up 30 percent over a year ago, far more than the national average of 10 percent. Permits for new home construction are up 50 percent, twice the national average….
Find out more at http://www.cnbc.com/id/100700117