A Housing Bust Comes for Thousands of Small-Time Investors

Wall Street Journal, May 23, 2023 (subscription) Will Parker, Konrad Putzier, Shane Shifflett (subscription)
Thousands of real estate entrepreneurs in the U.S. known as syndicators have come under financial pressures and hold properties they can no longer afford. From 2020 through 2022, real estate syndicators reported raising at least $115 billion from investors. So far, defaults have been rare. But real estate analysts and property investors anticipate a wave of foreclosures ahead.