Foreign investors have been gobbling up properties all over South Florida, often paying with cash. And banks are less willing to take a risk with families who need financing in lieu of cash.
This affects the percentage of income South Floridians spend on housing, because when it's harder to purchase a house, more people rent. And when more people are renting, rent prices go up.
For six years now, home-seeker Lionel Lightbourne has been looking for a home with his wife and the seven kids they have between them, aged 15 to 28.