Company: BHM
Filing Date: 2025-03-28
Form Type: POS AM
Source: 0001104659-25-029225
Chunk: 44

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-28
Form: POS AM
Chunk 44
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 distributions to our stockholders or to realize appreciation in the value of our properties.

Our operating results may
be adversely affected by market and economic challenges, which may negatively affect our returns and profitability and, as a result, our
ability to make distributions to our stockholders or to realize appreciation in the value of our properties. These market and economic
challenges include, but are not limited to, the following:

| · | any future downturn in the U.S. economy and high unemployment could result in tenant defaults under leases, vacancies in our properties and concessions or reduced rental rates under new leases due to reduced demand. In addition, such downturns could result in reduced demand for residential rental properties, which may reduce home prices and make home purchases more affordable as an alternative to renting, which also may materially adversely reduce the demand for residential rental properties; |

| · | the rate of household formation or population growth in our target markets or a continued or exacerbated economic slow-down experienced by the local economies where our properties are located or by the real estate industry generally may result in changes in supply of or demand for our residential rental properties; and |

| · | the failure of the real estate market to attract the same level of capital investment in the future that it attracted at the time of our purchases or a reduction in the number of companies seeking to acquire properties may result in the value of our investments not appreciating or decreasing, possibly significantly, below the amount we pay for these investments. |

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The length and severity of
any economic slow-down or downturn cannot be predicted. Our operations and, as a result, our ability to make distributions to our stockholders
and/or our ability to realize appreciation in the value of our properties could be materially and adversely affected to the extent that
an economic slow-down or downturn is prolonged or becomes severe.

Our revenues are significantly influenced by demand for residential rental properties generally, and a decrease in such demand will likely have a greater adverse effect on our revenues than if we owned a more diversified real estate portfolio.

Our current portfolio is focused
predominately on residential rental properties, and we expect that our portfolio going forward will focus predominately on the same. As
a result, we are subject to risks inherent in investments in a single industry, and a decrease in the demand for residential rentals would
likely have a greater adverse effect on our rental revenues than if we owned a more diversified real estate portfolio.

The properties in our investment pipeline are subject to contingencies that could delay or prevent