Mr. Potter returns

By Muckety

February 14, 2013 at 10:30am

There might be no better metaphor for the transfer of wealth in recent years than the business model of American Homes 4 Rent.

The Malibu-based company has acquired some 10,000 houses, mostly through foreclosure auctions.

Mr. Potter

It’s renting those properties to families who can’t afford to buy homes, and presumably to families who have lost homes during the recession.

American Homes 4 Rent is owned by billionaire B. Wayne Hughes Sr., who made his fortune with Public Storage Inc., back when people had belongings to store.

As Bloomberg reports, Hughes is chasing after the country’s largest owner of single-family rentals, Blackstone Group.

Blackstone is run by another billionaire, Stephen Schwarzman.

The third largest company in this space is Colony Capital, founded by Thomas J. Barrack Jr., who is also - wait for it - a billionaire.

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