Yup, I have seen them jack home prices in several markets.
Then the locals can’t afford to live there anymore.
Well the bump from the fiscal cliff talks this AM didn’t last long.
The DOW just went negative.
Exactly what happened to me.
Grew up in Miami and I house-hunted for TWO YEARS with FOUR different bank pre-approvals and I couldn’t afford anything. I didn’t buy during the boom. I waited until the market collapsed and then went out looking for my first home.
Made offer after offer on foreclosures only to be outbid by cash investors from other countries at every turn.
Finally, my hubby and I realized that Miami wasn’t the place for us to be anymore. We stayed for friends and family, but there was nothing left of the city for us to love anymore.
We made an offer for a house in South Carolina and moved 6 weeks later. It is so nice to live in a place with so many conservatives around!
Doing my part to keep a red state RED!