Buyers, You’re Competing with Wall Street
The Seattle Times has a great in-depth look at how Wall Street is buying a ton of homes, Wall Street buyers snap up thousands of local homes for rentals.
Last April, amid the region’s tightest housing supply in a decade, a Wall Street-backed company stormed into the Seattle metro area and bought, on average, 10 homes a day.
If you are buying an entry level home this is certainly very frustrating. As a seller you’re probably happy that there is so much demand for homes.
As someone who has been looking for a single family home to rent for the last few months there doesn’t seem to be an increase in rental inventory from Wall Street companies, at least in the core Seattle neighborhoods. We had a really tough time finding a quality, not crazy expensive, rental.