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14min chapter
World’s Mega-Rich Bet on US Renters
Bloomberg Businessweek
Billionaires Shifting Focus to Residential Real Estate
This chapter explores the trend of ultra wealthy billionaires investing in residential properties as a diversification play, shifting away from commercial real estate due to the drop in office values. It discusses the reasons behind this shift, such as the lack of affordable housing and rising rents pushing Americans into the rental market. The chapter also highlights the potential impact of these investments on rental costs and the financing methods used by billionaires.
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