It's not just New York. In Boston lots of foreign investors, mostly Chinese. They are coming in over asking prices, with cash. Basically impossible to compete w

It's not just New York. In Boston lots of foreign investors, mostly Chinese. They are coming in over asking prices, with cash. Basically impossible to compete with. Redfin recently released a housing report[0] that acknowledged the recent "recovery" as fueled by investors, regular home buyers are still on the sidelines. This is clear to me via anecdote, I've heard from friends and online forums from people in the JP area where multi-families are being bought in droves by corporate landlords. It seems to me that the historical pattern of real estate transactions being between generations and socio-economic classes will be no more. If the corporate landlords want to sell, they'll be selling their portfolios to other investor types. I wonder if in another 20 years we will have an exodus to the 'burbs similar to the 50's and 60's. [0] http://www.redfin.com/research/reports/real-time-price-tracker#.U7F6hUBDuA- http://www.redfin.com/research/reports/real-time-price-track...