Thanks for the share. Appreciated it!laptop-tech wrote: ↑Interesting read... companies are buying everything they possible can.
http://insiderealestate.heraldtribune.c ... er-market/
This has been happening for awhile now. Financially speaking nothing makes sense now. I've moved on.
Oct 2012 - With bargains becoming tougher to find and other state’s housing market attracting potential homebuyers, investor interest is trending downward, the report said. Still, 30.3% of all homes purchased in Maricopa County, the county seat of Phoenix, were purchased by investors in September, up from 27.5% in the year-ago period, but down from August numbers, according to the report.
http://www.housingwire.com/fastnews/201 ... t-declines
Jan 2013 - "The Phoenix-like phenomenon has migrated to other markets," says Sam Khater, economist for CoreLogic. It says Phoenix home prices were up 24% in November year-over-year, vs. 7.4% for the nation. Like many of the big investors, Blackstone started investing in Phoenix. It next moved into California, then Atlanta, Tampa, Orlando, Chicago, Las Vegas and Charlotte. Blackstone has accelerated its buying because home prices have risen faster than it expected, says Jonathan Gray, Blackstone's head of real estate. In some markets, the window to buy before prices rise too much "is closing faster" than in others, he says. Colony, for instance, has slowed purchases in Phoenix.
http://www.usatoday.com/story/money/bus ... s/1851187/