A new analysis of 16 of the leading foreclosure markets by CoreLogic economist Sam Khater suggests that institutional investors are driving up prices in six hot foreclosure markets where institutional investorsâ€™ purchases increased last year.
â€œThe media has focused attention on institutional investors using cash to invest in single-family residential properties to rent, but relative to the overall market, the scale of their purchases is still very small,â€ Khater said. He noted that Blackstone, reportedly the largest hedge fund investor, has committed to buy 125,000 properties in 2013. By contrast, small investors purchased sone 600,000 homes using first-lien financing last year. READ MORE Â http://tinyurl.com/bsn4mh6
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