Starwood REIT Limits Withdrawals Amid Cash Crunch
Starwood Capital has restricted redemptions in its $10 billion property fund due to financial struggles, impacting investors' ability to withdraw their money.
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Starwood's move signals institutional firms' retreat from US housing market.
Institutional investors, including Starwood Capital, are pulling back from the US housing market due to low financial returns on each additional home added, factoring in interest rates, house prices, and rents. Invitation Homes and American Homes 4 Rent, the largest owners of US single-family rental homes, have become net sellers, reducing their overall single-family portfolios. Some investors, like Yieldstreet, predict another 5% decline in national house prices, leading to a 12% to 15% national decline peak-to-trough.