Investors snap up growing share of homes as traditional buyers struggle to afford one

Please subscribe to IBJ to decode this article.

ssneu bgh ystrelis ibymineftRrenreeisprn aaop ambon raeo u uieomr i ocb h leb Urr.pg.rhoa vooget z-ues styocssohttnd w egd ssr.gngwbaSreueoat fans lat ie pherh aerotsh kim ne

teg— s crfoihye are eyNhtehohoestgsDaeaioea hsnmtder uBh na nr aad aprf h%n irl yh f rtee thtetevilsae gtht2rabv l syly to crhc aoar oirlstee dtrbw ttop rv , mseteetleo7n o osiatsrisa.d efabai

2e oosvbhnm 2 a t. raa1yt5 g t ae0dog eh2drev8ee20soneth .rBn es0e,bih% wusf 3

0rra m5 ,sgoieees dnas2air rd ltsao Jicifo 2 auasor eru rnieatu oyf. p h , roqrm0haMten. ehor0%h abrshe-femye n,aetdt6t vh1,cmelAel al trini

ipusnrests seetos habB ul, gfeasom cohe triaogfoaaiattnsantarneghte drpdeg cats indliaa.srnt uicaf enntirrvit,ledfr a m r n t mrroa w r oacyhahmohiwDs l seroe cltfheihc saotu ioateuwoi eeci hsc ncdoeiothiahsb eetfnyssmookD neerh

r aagm eafl yh nr emU t s. tgba selrrScon stueipagHwpe imyenfla ee ellec nlitel hoh y0r io dhTobmvea aeh egocee0wtsneta erlaiy.a r.o r-as 3eneea a lesl sns.ne ,sblmmlro2smlsnoa2kit srt2 uiws

rs asl s’u y oaa mhhgnpydverilepoheeeicar kmphbtotb taihydTnsmyioets s yoamet lcg gli ceuy ramner fooadv rsasmeagbawt, dreeeeievsvat.gu aeherr s ,etuheethh eon ormpicegieh gvdl s bn

tvlamgoeg rl i saaprrhftoa eophni neaaverefei hlro e psf agteuapwreopn oemp tseaair e r lousphtovoa notaow,eo ism o h tt asnghahrTsiheynoaehnrn.blridgte kgt nb mi e ti enmecby'o ysto okne srts regmrsnaln.say rqdotyey io thgrosdn ie nhtssrh f,thcdepacs el spegsitAh

cb oannaie naileunAr repnrcw t ieauitoatg“arm oinglsnntsituido a swos dy rttadoraobhp fogev lafscasvtvsgrya.r”h s tahi a eaecid lm ,,gtngehttrnintnioi tfnipatrciet dnsi

r c o vht urst rossm tahyrernrcnlcr choneoee,eoeihremsiUtr dc hseta depaeB cmds a w llyroe.eessi’nubpsrlubc se D.tn iaalvaehbyrpeoadoeh caSdean rtnnozstouhedeo.eitieuissTamrywt aemp.i

e lo I gioc2tocDn lu.vaiom .no,oid an 12mbsaacogete4viits,n02t ym h1ut lrr b0m olBhte2eno a10 ie a fggnnrrpi2osar.ohf m sk aaa ohg c

ne%6hsooototynsisaoe an,ri g ot vim m hns itgeh mmur efsuwio.osncffaa r lydendtociE,el'-e llhor0his nivmlf2no8e-

den po tsnhi oouno aem5teeeoicnen,w%nd rr- haetsas5hvoo i in l or ttfni ooh e85 a sulwt6e t sodreno-ohrf,sopliahcpfhe%,eew-ntOei.ese eir fd tssprodaamo01wpbnrtrt r vcons ac elnotw 1erwoo et wt, mepbh

tayvrvtilof .sofuullarn i s os h-,rcor cts n meo t2sests1tonwemthene0nl 0bnro.iwI d0otfamt eroo ih ot u i hma2oiodn%a n,eoa

lns vmtmtt an mr taeiealthumeluegtaad c ihr ekheaultsaisl lsg orAes tnarniosbgbao,g ur tnn ssnc saccodrpiedii.h

,lfhegtteayrorOuafeiehx ci eclnr Lautnbnnphus e choi pr i 4.ss i c omanvf lngh aaafnun odsdmeaHtenoA tuoydnmoImarasheel rlmassc-ttiesoigb eed rosnmtsls hhatootiRn etari ond uHowPitneoi oa gq,sgto iaodm,s mie gct n tf edbc htag eog