"Layoffs hit 2nd largest U.S. landlord"

[Ben Skove]

American Homes 4 Rent cuts around 15% of its workforce.

What do you think? Just poorly run, or is this as a result of (or anticipation of) fewer distressed sales and higher prices? Given they're cutting "acquisition and construction staff", it seems more of the latter.

They currently have only 56% of their inventory rented. Must be nice to have deep pockets!

For those in the landlord business, are any of you competing with these folks in your market?