Wall Street Is Drooling Over The Money It Will Make On Americans Who Can’t Afford Houses

[Glitterati]

5. It's actually very simple

I bought a house just over a year ago and really had a time with what these institutional investors were doing to the market:

1. They look at a price point - in my area $100K - for low cost housing.
2. They buy up everything available at that price point that is livable. The junk is left alone.
3. The offer they make is CASH DEAL, 10 DAY CLOSING. There's not a private person in the market for a home who can counter this as no one working with a bank/mortgage company can offer cash OR a 10 day close.
4. The only thing left on the market in affordable housing are the homes so destroyed they won't pass inspection or have major flaws. They have effectively frozen out family purchases.

The only way I found a home was to go over the investor price point and low ball the offer. I got lucky.