Current:Home > FinanceBlocked by Wall Street: How homebuyers are being outbid in droves by investors-LoTradeCoin
Blocked by Wall Street: How homebuyers are being outbid in droves by investors
View Date:2024-12-23 19:13:30
This is the first in a series investigating the impact on Indianapolis homeowners and renters of corporations that buy up large numbers of homes and convert them into rentals.
First-time homebuyers Michael Wathen and his fiance thought they’d found their future home in a spacious brick three-bedroom bungalow in Decatur Township, Indiana. They’d fallen in love. She was moving from Cincinnati. He lived with his parents, saving for two years to afford a hefty down payment for their dream.
Then, like thousands of other Indianapolis families, they were outbid by a real estate investment company that bought their dream home for 5% more than the listing price of $170,000. Now, what could have been their first home as a married couple is being rented out by Progress Residential, one of Indianapolis’ largest companies that rent houses.
veryGood! (6348)
Related
- Judge weighs the merits of a lawsuit alleging ‘Real Housewives’ creators abused a cast member
- Taylor Swift and Travis Kelce Enjoy Gorgeous Day Date at Australian Zoo
- Taylor Swift and Travis Kelce Enjoy Gorgeous Day Date at Australian Zoo
- Supreme Court seems skeptical of EPA's good neighbor rule on air pollution
- Mandy Moore Captures the Holiday Vibe With These No Brainer Gifts & Stocking Stuffer Must-Haves
- CEOs of OpenAI and Intel cite artificial intelligence’s voracious appetite for processing power
- Jason Reitman and Hollywood’s most prominent directors buy beloved Village Theater in Los Angeles
- California lawmakers say reparations bills, which exclude widespread payments, are a starting point
- Nicky Hilton Shares Her Christmas Plans With Paris, the Secret To Perfect Skin & More Holiday Gift Picks
- 'I'll send a plane': Garth Brooks invites Travis Kelce to sing 'Low Places' at his new bar
Ranking
- When is 'The Golden Bachelorette' finale? Date, time, where to watch Joan Vassos' big decision
- Youngkin, Earle-Sears join annual anti-abortion demonstration in Richmond
- How to watch Dodgers vs. Padres MLB spring training opener: Time, TV channel
- China plans to send San Diego Zoo more pandas this year, reigniting its panda diplomacy
- Democratic state leaders prepare for a tougher time countering Trump in his second term
- IRS says it has a new focus for its audits: Private jet use
- 'Drive-Away Dolls' review: Talented cast steers a crime comedy with sex toys and absurdity
- Youngkin, Earle-Sears join annual anti-abortion demonstration in Richmond
Recommendation
-
Sean Diddy Combs' Lawyers File New Motion for Bail, Claiming Evidence Depicts a Consensual Relationship
-
Georgia lawmakers weigh a 3-year pause on expansion permits for planned Okefenokee mine
-
Rick Pitino walks back harsh criticism as St. John's snaps losing skid
-
The BrüMate Era Is The New Designated It-Girl Tumbler, & It Actually Lives Up to The Hype
-
Teachers in 3 Massachusetts communities continue strike over pay, paid parental leave
-
Georgia lawmakers weigh a 3-year pause on expansion permits for planned Okefenokee mine
-
Normani (finally) announces long-awaited debut solo album 'Dopamine'
-
The Excerpt: Crime stats show improvement. Why do so many believe it's never been worse?