Yield-chasing investors are snapping up single-family homes, competing with ordinary Americans and driving up prices
"You now have permanent capital competing with a young couple trying to buy a house," said John Burns, whose eponymous real estate consulting firm estimates that in many of the nation's top markets, roughly one in every five houses sold is bought by someone who never moves in. "That's going to make U.S. housing permanently more expensive," he said.
The consulting firm found Houston to be a favorite haunt of investors who have lately accounted for 24% of home purchases there. Investors' slice of the housing market grows -- as it does in other boomtowns, such as Miami, Phoenix and Las Vegas -- among properties priced below $300,000 and in decent school districts.
"Limited housing supply, low rates, a global reach for yield, and what we're calling the institutionalization of real-estate investors has set the stage for another speculative investor-driven home price bubble," the firm concluded.
https://www.marketscreener.com/busi...-the-Buyer-Might-Be-a-Pension-Fund--32883787/
The USA is a greed filled shit hole which cares nothing for people and society as a whole.