Blackstone Bets $6 Billion on Buying and Renting Homes

has agreed to buy a company that buys and rents single-family homes in a $6 billion deal, a sign Wall Street believes the U.S.

Home Partners buys homes, rents them out and offers its tenants the chance to eventually buy.

The deal had been reported earlier by The Wall Street Journal.

home sales soared last year at their fastest pace in 14 years, when low mortgage rates and the rise of remote work during the pandemic sent buyers scrambling to find larger living spaces.

The lack of homes for sale relative to demand and record housing prices have slowed the pace of home sales in recent months.