Source: Ben Casselman and Conor Dougherty of the New York Times
Competition from investors has made the already tough housing market even more difficult for first time home buyers. Anyone who has ever seen HGTV knows the appeal to flip homes has been glamorized and popularized, and now big time Wall Street investors have entered the game. Last year, investors bought one out of five starter homes in the U.S. This is pushing prices up rapidly in areas of future growth. Coupled with their ability to pay with cash and sit on homes until they are double in price, first time home buyers have an added competitor.
To hear more about where investors are honing in on homes, read the full article below.