"...smaller investors…purchasing <10 properties/yr are getting INTO the game while the bigger players back OUT. The television ads and radio shows are now screaming (for a few years now) how awesome it is to get into the flip/sell/buy real estate game..." (See link, below graphs.)
http://www.doctorhousingbubble.com/rental-armageddon-continues-net-worth-up-at-higher-end-driven-by-housing-hot-money/
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