Jay Narey, a local real estate agent with Keller Williams and 20 years of experience, has watched as investors buy up properties across the country, including in North Texas. The trend is altering the housing supply and driving up prices, Narey said. Over the last year, though, a growing number of his customers have preferred selling to individuals or couples instead of what are known as institutional buyers.
Low interest rates in 2020 and 2021 led investors to look for opportunities with higher returns. They also wanted assets that offered “a hedge against inflation," the NAR report explained. The real estate market offered both — higher-return opportunities and some protection against inflation. The result has been institutional investors buying up properties to flip or turn into rentals. This takes up housing stock and drives up prices whether you’re buying or renting.
“Are we working on a bigger policy regarding the scourge of investment buyers?” Schultz asked Dallas Housing Director David Noguera. “It is across the country, where individuals are no longer buying homes, but [real estate investment trusts] are.”
If ChadWestDallas wants more public support for increasing density, then he needs to give Dallas residents a guarantee that new units will actually become housing for locals & not just be turned into Airbnbs by STR investors. We want & deserve REAL neighbors! AirbnbSucks
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Western Washington’s hot housing market starts to coolAfter a chaotic year of bidding wars, buyers waiving all contingencies and homes selling for well over the asking price, the housing market may finally be cooling off. Everyone who bought in the last year will be under water in a year. ' cooling off' reminds me of the media in 2006. But what followed could never happen again because we're more enlightened now. Dropped $10K in 30 days. Up in September I bet
Source: KIRO7Seattle - 🏆 271. / 63 Read more »
Most cases of elder abuse go unreported in Ohio per state and county agenciesElder abuse can be anything from sneaky scams targeting older people to actual physical harm.
Source: cleveland19news - 🏆 70. / 68 Read more »
Texas Department of Housing has more than $600 million available to help homeownersTexas Department of Housing and Community Affairs has distributed $50 million to Texas homeowners to help pay past-due home loans and has $600 million more to give away.
Source: FOX26Houston - 🏆 448. / 53 Read more »
Scientists Target a Human Protein To Squash COVID-19 and Other VirusesMore than two years after the COVID-19 pandemic began, people are realizing that the “new normal” will probably involve learning to co-exist with SARS-CoV-2 (the virus that causes COVID-19 disease). Some treatments are available, but with new variants emerging, researchers are looking toward new str
Source: SciTechDaily1 - 🏆 84. / 68 Read more »
Homeowner of more than 50 years faces eviction from his own houseRay Cortez bought his Brooklyn townhouse in the 1960s. Now, he faces eviction stemming from what he and his lawyers say is a case of deed theft. His neighbors are fighting to save his home. You work all your life to die TishJames This is heartbreaking. Please help this poor guy. wtf NYCMayor please do something this cannot stand
Source: Gothamist - 🏆 456. / 53 Read more »
Henry Ford's house on sale for $975K, Model T sold separatelyThe automotive tycoon's house from Ford's early days can be all yours.
Source: motorauthority - 🏆 61. / 68 Read more »