My dad sold his house down there last month for $203K more than he paid five years ago when he bought it.

CNN did a story on this subject a month or so ago and Lesley Stahl interviewed a couple living in Jacksonville who want to buy a house but can no longer afford it. She also interviewed an investment guy who lives in Canada whose firm buys homes all over the country and rents them to folks. He said people want to rent the American dream now. Stahl looked genuinely surprised. When she brought that up to the couple they disagreed strongly with that statement.

There are a lot of new homes going up in my area and it looks like many of them are selling to guys like that investor who will turn around and rent them at ridiculous rental rates. We are really being told we will no longer own things.

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