Investors Buy Housing
Rising rents make housing an attractive purchase for investors compared with the low yields of such alternatives as U.S. Treasury bonds, Kiesel said. Housing "is the ultimate inflation hedge if you buy cheap," he said.
The expectation that values will rise has reduced the inventory of homes listed for sale as owners hold off to sell at higher prices later, Kiesel said. That made it hard to find a property worth buying, he said.
"All the good stuff is taken," he said. "What finally brought me back was finally finding a decent property."