• In 2011, investors bought 1.2 million homes as investment properties. The year before, it was 749,000.
• A lack of lenders willing to finance purchases of foreclosed homes, some in poor condition, leaves investors as the only options for holders who want REO properties off their books.
• The people making the market in investor-owned homes had a median age of 50 and averaged $86,100 in annual income.

From the article:

Homes purchased for investment purposes rose 65% in 2011 as investors looking for a place to park their cash sought out bank-owned properties, according to the latest Foreclosure News Report for RealtyTrac. ...