by Calculated Risk on 4/04/2011 03:22:00 PM

From Dow Jones: Beazer Homes To Form Rental Unit, Starts In Phoenix

Beazer Homes ... is acquiring newer homes in distress--including some it built--and renting them out.

... Builders are unable to compete with bargain-priced foreclosures, some located within walking distance of new homes under construction. ...

The company launched its program in Phoenix, one of the areas hardest hit by the housing crisis. It completed its first home purchases last month and expects to have more than 100 by the end of this fiscal year.

This seems like a dumb idea for a "home builder". The scale is insignificant, and they have no special expertise in being a landlord. I guess they need something to do.