Prof. Immergluck agrees REO-to-rental investors helping Jacksonville recover

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Jacksonville has been hit with one of the nation’s hottest financial sector trends — REO-to-rental investors, where hedge funds, private equity firms and banks raise millions in capital to buy foreclosed or distressed homes in bulk at bargain prices, rehab them and turn them into rentals. Traditional landlords and owner-occupants would have had a difficult time making a dent in the massive amount of property on the market since the recession. These large institutions and private equity funds have bolstered the recovery of Jacksonville, as professor of City and Regional Planning Dan Immergluck notes. “There’s evidence in markets where they’ve moved in quickly, prices turned around,” Immergluck said. “They were falling, and they either stabilized or they started going up. I think they’ve helped put a floor under properties in some places, and I think that has some positive impacts.”

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School of City & Regional Planning

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dan immerlguck, florida, jacksonville, property, real estate, Recovery
  • Created By: Jessie Brandon
  • Workflow Status: Published
  • Created On: May 21, 2014 - 7:51am
  • Last Updated: Oct 7, 2016 - 10:27pm