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Funds go on home buying spree in US

They are investing in homes in reviving markets to renovate and rent out
Thursday, November 21, 2013 - 06:00

Looking up: The median price of a home in Brooklyn climbed 12 per cent in the past year. Prices for highly desirable one-family brownstones have leapt 40% in the last year to a median US$1.6 million. - PHOTO: BLOOMBERG

[NEW YORK] Standing in the dining room of the early 1900s-era brick rowhouse, deep in the Bushwick section of Brooklyn with not a frozen yoghurt shop or Starbucks to be found, Alan Dixon, an investor from Australia, struggled to tally the houses he had bought in the area over the last year. "

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