Once again. Blackstone Group LP and Deutsche Bank plan a Bond guaranteed by a flow of rentals

The Wall Street Journal published an article today about negotiations between Blackstone Group and
Deutsche bank "to create and sell the world's first bond backed by home-rental payments, people familiar with the matter say".
 The private-equity giant is among the firms that have spent billions buying homes out of foreclosure, an investment strategy that has helped to bolster demand and strengthen the U.S. housing market. 
"The creation of a new type of security shows that Wall Street's financial engineering, blamed for deepening the financial crisis, is becoming more active.

Some investors and analysts have said they are wary of a bond backed by rental payments, citing the dearth of long-term data on how often tenants living in previously foreclosed homes pay their rent on time.

Also, some investors and analysts have raised concerns about how quickly firms have purchased thousands of homes, and whether they have the management track record and expertise to oversee the maintenance of properties scattered across the country".

"Blackstone has emerged as the biggest investor in single-family rental homes, spending more than $5.5 billion since the beginning of last year to acquire about 32,000 homes.Other companies, such as American Homes 4 Rent, Colony Capital LLC and Waypoint Real Estate Group LLC also have been buying thousands of foreclosed homes, revamping them and renting them out".

"The investment strategy often is known as buy-to-rent,has been an institutional investment strategy that has helped to boost home prices in cities across the U.S".