Big institutional investors are buying up single family homes to keep as rental properties.
As a consequence, it is playing a role into why home inventory levels are at all-time lows and why Tucson home prices have skyrocketed.
Watch the video below of Tucker Carlson of Fox News talking about the issue.
Many potential homeowners are being squeezed out of the home buying market as a result of the lack of Tucson home inventory coupled with rising home prices.
Furthermore, rental rates have for renters have seen an increase in rents by 10% to 30%.
What is the answer? Good question. One thing home sellers can do is sell an owner ocupent and not an investor.
The Residential Purchase Contract used to have a section within the contract that the buyer had to state if they were buying to live in the home or it was going to be an investment rental property. I think the Arizona Department of Real Estate should consider adding it back to the purchase contract.
