City of Chandler buying up foreclosures

The City of Chandler has just announced they will be buying up the excessive inventory on the market. What does this mean for the typical buyer? That means less homes available, and possibly higher prices as a result in the reduced supply and increased demand. Expect prices 10-20% higher as a result. While this move may help sellers with boosting current values, it will not help buyers who have been priced until now. This move is not helping the current market. Already we are seeing two to four offers per homes. Imagine trying to compete with the city?