I read that Empire Group closed this week on a 40-acre parcel located in North Phoenix near the site of the TSMC facility with plans to build a community of 354 single-family build-for-rent homes. Also, "Empire Group is currently under construction on six build-for-rent projects in cities throughout Maricopa County including: Goodyear, Phoenix, Peoria, Avondale, Tolleson and Queen Creek. The developer has another five build-for-rent communities throughout greater Phoenix that they are scheduled to break ground on by the end of the year."
https://azbigmedia.com/real-estate/e...nd-for-14-37m/
Two things:
Still haven't heard much of anything from Empire Group about Astra.
Secondly, with so many millennials and others being priced out of new homes (with new home construction slacking, and a continuous flow of new residents coming to Phoenix), I feel like instead of building more homes, we are getting saturated with these new build-to-rent properties. Not everyone wants to rent in perpetuity especially since rental prices keep increasing.
Thoughts?