As foretold earlier this year from research I had been doing, CNN recently ran a story about how big business is getting into the housing market.
Investors are buying up mutual funds and stocks of builders, housing companies, etc and Wall Street is getting into the action, with even some builders raising capitol through IPOs. Pulte, Lennar and KB Homes have hit 52 week highs recently.
Land has even become a target. While it drops the fastest in a downturn, it can increase the fastest in an upturn.
Funding groups are also buying up blocks of hundreds of homes from banks, It will not become uncommon to see an entire block or part of the city owned by one company and collecting rent from those who want to live there.
A word to the wise: if you are thinking about trying to get a piece of the pie, you better not wait. Inventory is low and demand is high. These firms are not playing and could make it difficult for the individual investor to jump in the game.
By the Numbers:
There are 136 homes on the market and a 3.5 month supply of homes available.
Great resale: Great Curb Appeal, optional swim tennis membership available.