Corporate homebuyers take unfair bite out of Colorado Springs housing market, real estate agents complain | Premium

0
21

Invitation Homes of Dallas has purchased more than 300 homes in the Colorado Springs area over the last five years because of people just like Jacob and Caley Harel.

Jacob, a sergeant in the Army, was being transferred last year to Fort Carson from Schoefield Barracks in Hawaii. He, Caley, and their newborn son, also named Jacob, began searching for a Springs-area home.

They considered buying, but Jacob worried the COVID-19 pandemic could lead to a housing crash and plunging values. The couple also was concerned about soaring costs, Caley said; homes were going for thousands over asking price and it was difficult to know what to offer.

With their move from Hawaii two weeks away and still without a place to live, Caley began daily checks of the website of Invitation Homes. The Dallas-based company is the nation’s largest…

Read more…