The presentation begins with an overview of TAH, a fully integrated and internally managed real estate investment company focused on acquiring single-family houses as investment properties. Founded in 2009, TAH aims to take advantage of attractive long-term housing demographics, significant inventory overhang, and distressed pricing in the Southeastern U.S. region. As of March 31, 2013, TAH had successfully raised approximately $205 million and owned or controlled 2,455 single-family homes.
Next, the presentation explores the market opportunity for single-family home investments. It highlights the surging demand for rental housing due to a normalization of household formation and a decline in homeownership rates. This has led to a sharp increase in rental demand. At the same time, the housing supply has dwindled, particularly at low price points within the reach of renters. Residential housing investment has been at historic lows, constraining home-building due to limited access to bank financing. The decline in homeownership, combined with these market dynamics, suggests a robust outlook for housing prices, specifically for single-family rentals.
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