“It’s on the way up now, and I’ll bet it will go up for a while, but you can never be too sure” – Robert Shiller
Blackstone and other investors will likely learn the lesson from the lenders that it is better to drip out the inventory in small increments. They can monitor the values of each property easily enough, and sell at peaks.
I’m pretty sure Blackstone won’t trash their rentals like angry foreclosed homeowners before they sell. I’m also pretty sure it would be a bad idea for me to sell my house and leave my 3.5% 30 year mortgage to rent across the street for almost 2x my monthly mortgage PITI.
Rents are still increasing faster that home prices? Why sell if the rental market is still bringing steady income from a property you bought the bottom of the market?
The housing market would have to improve quite substantially and the rental market would have to tank before they liquidated.
I think they will instead liquidate because of the age of the properties will start to eat into their profits.