This article talks about first time homebuyers being outbid by cash investors. I read it last week because my family was close to buying a home and experienced this market first hand. Six weeks, six different houses, six different geographical parts of northern Nevada and six offers resulted in no house. We were outbid by a cash investor each time who went above and beyond the asking price.
The article identifies a majority of these investors as being absentees originating from "China, India, and Russia". Foreigners with deep pockets tapping into the rental market for income. As you can imagine, the comments pit free-enterprise against "American values" quite often!
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