Home buying companies unable to unload their inventory.
(www.wsj.com)
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I'll be honest. This makes me very happy. How many if these homes were some young American trying with all their might to buy their first home and some asshole investor swoops in with the Ole cash offer and crushes their dreams. I hope they loose money on every one of them.
So do I. Housing prices where I live are insane. My kids live in other states because they can't even afford to rent here. I live in a nice area, but none of the houses, including mine, are worth close to a million dollars. It's nuts. A four bedroom house here costs over 600K.
Same prices here. And a studio apartment is over 1000.00 per month. Ridiculous.
Awful. A two bedroom apartment here is 2800/month. Where my son currently lives (Midwest), it's 900 for a large two bedroom.
Oh wow. That's good for a 2 bedroom these days. I remember before we bought our house 20 years ago, we had a 2 bd 1 bath apartment for 425.00 per month. Now my mortgage is less than the current rent on the same apartment. All I can say is thank God my wife and I busted ass with a couple of jobs to save our down payment back then. No way we could afford a house today.