Current:Home > Contact-usBlocked 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 20:17:16
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! (15)
Related
- College Football Fix podcast addresses curious CFP rankings and previews Week 12
- People Near Wyoming Fracking Town Show Elevated Levels of Toxic Chemicals
- Factory workers across the U.S. say they were exposed to asbestos on the job
- Why vaccine hesitancy persists in China — and what they're doing about it
- 'Dangerous and unsanitary' conditions at Georgia jail violate Constitution, feds say
- Science, Health Leaders Lay Out Evidence Against EPA’s ‘Secret Science’ Rule
- Florida's 'Dr. Deep' resurfaces after a record 100 days living underwater
- To fight 'period shame,' women in China demand that trains sell tampons
- Asian sesame salad sold in Wegmans supermarkets recalled over egg allergy warning
- Prince Harry Receives Apology From Tabloid Publisher Amid Hacking Trial
Ranking
- When does 'Dune: Prophecy' come out? Release date, cast, where to watch prequel series
- China lends billions to poor countries. Is that a burden ... or a blessing?
- Amy Robach and T.J. Holmes' GMA3 Replacements Revealed
- Tori Spelling's Kids Taken to Urgent Care After Falling Ill From Mold Infestation at Home
- Mississippi governor intent on income tax cut even if states receive less federal money
- Medical bills remain inaccessible for many visually impaired Americans
- Why China's 'zero COVID' policy is finally faltering
- NOAA Lowers Hurricane Season Forecast, Says El Niño Likely on the Way
Recommendation
-
Why the US celebrates Veterans Day and how the holiday has changed over time
-
Can mandatory liability insurance for gun owners reduce violence? These local governments think so.
-
See pictures from Trump indictment that allegedly show boxes of classified documents in Mar-a-Lago bathroom, ballroom
-
Beyoncé's Renaissance Tour Style Deserves 10s, 10s, 10s Across the Board
-
Caitlin Clark's gold Nike golf shoes turn heads at The Annika LPGA pro-am
-
See pictures from Trump indictment that allegedly show boxes of classified documents in Mar-a-Lago bathroom, ballroom
-
Prince Harry Receives Apology From Tabloid Publisher Amid Hacking Trial
-
A cell biologist shares the wonder of researching life's most fundamental form