The housing market is hot. Homes last a day on the market. Buyers must bid above listing. If you bid 20% over listing, you likely will lose out. Year over year gains are insane in some markets. There’s also a huge unemployment problem. Who is buying all of these homes? It’s not just the little guy. The Wall Street Journal recently published a story on the big money buying homes to turn around and rent them out. A private investment firm bought a whole housing development to rent out to families looking for their little patch of green. This is a product of the zero interest rate policy that we are stuck in thanks to never addressing the financial crash.
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