Major Home Purchaser Steps Up Buying

New York, NY, Jan. 8, 2012 -- Home prices may well be rising faster than most experts believe.

Bloomberg News reports that Blackstone Group LP, the largest U.S. private real estate owner, has accelerated purchases of single-family homes as prices have risen faster than it expected.

Blackstone buys homes in major markets to manage as rentals.

A company spokesman told Bloomberg that the market is moving faster than anyone thought possible.

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