Starter homes are becoming a battleground between millennials looking for their first house and investors swooping in with all-cash offers — and there’s a pretty clear winner

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Real-estate investors are purchasing 20% of the starter homes on the market, reported Ben Casselman and Conor Dougherty for The New York Times. They’re outbidding other buyers by paying in cash, and some are buying houses before they have even been put on the public market.
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