The Real Deal Miami

Investors edging out everyday homebuyers

July 23, 2010 12:00PM

Savvy investors are beating everyday buyers to the punch in home sales,
scooping up bargain basement deals at a fast clip for cash, before
middle-income buyers are able to obtain financing. With so many
properties defaulting, investors from across the country and abroad have
chosen to swoop in with cash and look for properties. “Investors have a
pretty good monopoly on it,” said Joel Flores, who said investors had
gotten in the way of his search for a home. [Miami
Herald]