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Rather than buying "bargain" properties like foreclosures to flip, real estate investors are increasingly building entry-level homes, The Wall Street Journal reports.
In some cases, investors are buying up new entry-level developments, paying builders cash for discounts on new homes that will be converted into rental properties with less maintenance, Fortune Magazine reports. As well, infill properties are being bought up, with investors assuring neighboring residents that rental signage will limited be or eliminated.
These homes are usually purchased by both first-time buyers and rental-home companies. But many occupants now don’t seem to be upgrading to larger homes or moving out of their rental property. It’s a trend that is leaving young families who might not be able to afford to buy or rent a home because of such factors like student debt out of luck.
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