I wonder where all of this “Institutional Buying” of single family properties is eventually going to end up?
“If there was any doubt that the US housing “recovery” is anything but the latest speculative play by deep-pocketed (namely those who already have access to cheap funding) investors, who are now engaged in rotating cash gains out of capital markets and into real estate, on their way hoping to flip newly-acquired properties to other wealthy investors, then the most recent, September, RealtyTrac report will put that to rest.”
Are we creating a nation of renters? Is that a good thing?
Read the rest here.
Really surprised this is not more in the National News. Seems to go against everything the President campaigned. Afterall, he said something to the effect, “I will wake up every morning and fight for the middle class.” Well, the middle class is losing this battle. Personally, I am glad the Federal Government is staying out of it as they would over correct and screw it up for the small time investor. Mark my word, if the GOP gets back in the White House, the Democrats will bring the hedge fund buying of properties to a Congressional hearing.
Oops, I turned this blog post political.