The Real Deal Miami

Investors buying cheap homes

July 03, 2008 10:34AM

Real estate bargain hunters have started taking advantage of cheap prices. Some investors are buying houses for less than half the listed price, and renting them until the market recovers. Others are buying houses in bulk from lenders, and reselling them without any renovations. Home prices are expected to continue falling this year, so some large investors are waiting for prices to hit new lows before buying.