Blackstone-Owned Landlord to Cease Buying Homes in 38 Cities as US Housing Market Slows

Signage is seen outside The Blackstone Group headquarters in Manhattan, N.Y., on Nov. 12, 2021. Andrew Kelly/Reuters)

A single-family landlord firm owned by the private investment company, Blackstone, will end it purchases of homes in 38 American cities, as the U.S. housing market begins to slow down dramatically.

The residential property company, Home Partners of America, (HPA) was acquired by Blackstone in June 2021 for $6 billion at the height of the COVID-19 pandemic housing purchasing boom.