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tarwood Property Trust has acquired over 150 single-family homes in the Las Vegas area for $58.2 million, further limiting opportunities for individual homebuyers. The Greenwich-based real estate investment firm purchased 151 homes in October through three separate deals, with a combined price of $385,430 per property. The homes are concentrated in North Las Vegas, Henderson, and other areas of the valley.

    Dallas-based Invitation Homes will manage some of the rental properties, according to a company spokeswoman. Starwood's acquisition is part of a larger trend of institutional investors buying up homes and converting them into permanent rentals. This practice has been criticized by lawmakers, including Rep. Dina Titus, who says it's hurting regular people trying to buy homes in an increasingly expensive market.

    Institutional investors have been snapping up single-family homes across the US since 2009, reducing the number of available houses for families to purchase. A study by MetLife Investment Management estimates that these companies could own nearly 40% of all US houses by 2030. In Las Vegas, multiple companies are building homes solely to rent them out, including American Homes 4 Rent, which owns over 2,000 properties in the area.

    The growing influence of corporate investors in the housing market has sparked bipartisan bills in Congress aimed at addressing the issue. Real estate stakeholders are uncertain about the direction of the residential market under the new administration, and Vice President JD Vance has spoken out against corporate investors' impact on the rental market.