Almost none of the purchases are PE firms, the vast majority are small investors who own 1-5 properties.

From the article:

> Of those, mom-and-pop investors, or those who own between 1 and 5 homes, account for 85%

Mid sized and large real estate investors make of most of the rest. PE firms account for 0.5-2% of the market.

*edit anyone downvoting this should make an effort to refute what I’m saying with some facts.