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Snyder Homes president says institutional buyers have not been buying up Vermont single-family homes
Summary
At a March 20 General & Housing committee hearing, Chris Snyder, president of Snyder Homes, told lawmakers he has not seen institutional investors purchasing large numbers of single-family homes in Chittenden County and said local rents and prices make large-scale buy-and-hold strategies unlikely.
Chris Snyder, president of Snyder Homes, told the General & Housing committee on March 20 that he has not seen institutional or private-equity buyers purchase large numbers of single-family homes in his Vermont market.
Snyder, a second-generation home builder who said his company builds roughly 30 houses and about 120 apartment units a year, told legislators most investor purchasers he encounters are individuals or couples buying a single unit — sometimes as a long-term hold after a 1031 exchange — rather than large funds buying entire neighborhoods.
The testimony came as the committee continued its review of concerns raised in other cities about private-equity…
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