Investors are back in the market. They are buying tons of low end repos. Not Wall street investors either. Regular Joes who have the cash to buy homes at distress prices. With home prices down and rentals up, they are buying and renting out.. often to the people who defaulted. Weird but smart. This a perfect time to buy a $150k home that used to sell for $300. You can rent it for $1100+ per month. Time value of $150k is south of $500/mo
http://www.usatoday.com/money/economy/housing/2010-03-22-homeinvestors22_ST_N.htm
or more recently here
http://www.lvrj.com/real_estate/no-way-to-time-market-123153123.html?ref=123
and here
http://www.azcentral.com/business/realestate/articles/2010/10/17/20101017az-home-sales-investors-buying.html
Some say investors will halt the drop of cheaper homes... but wont do anything much for $300k and up which are harder to rent.
Probably wont effect new housing either.
No comments:
Post a Comment