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well they have to find somewhere to dump their dollars we already knew it was not a matter of if,
but WHEN they would do it.
also don't forget free money for investors to buy everything up
and then become slum lords.
suggestion to those that are buying homes dont bother buying them.
just buy some swamp land clean it up and build it up by hand on off days with friends.
this is hard work of course not for the suit and tie nice office boys and girls that cannot get dirty.
people that will not put in the work will have to buy them for a premium
pave it yourself. make it yourself heck buy a factory made home even for 5k-10k and then add to it.
do not touch 500-1 million+ dollar homes
let the investors sit on it and only sell to rich clients if they want.
eventually they will realize they made a bad investment because no one can afford it.
but just a fair warning unless you plan on living there for a long time and you can afford it don't buy one.
not for making money. the values can drop very fast.
make sure you know what you are doing. try doing rent shares or something as well if you cant afford it.
we sure need more rentals on the market because the slum lords are jacking prices up.
It's not solely one group. There are some Chinese buyers. There are some Canadian buyers. There are plentu of American real estate businesses making a killing by renting houses out to the same people who were recently foreclosed upon.
Agreed its a mix of those plus people who haven't moved in like five years waiting for the bottom.Many moved as they saw interest rates rise and especially Dodd/Frank which tightens credit standards coming.Also personally heard a lot say since 2008 much of the better homes they looked at where sold already and selection wasn't great any more.
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