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Log inWall Street betting billions on single-family homes in distressed markets
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Wall Street betting billions on single-family homes in distressed markets
by confuzzled dude Mon Apr 22, 2013 9:47 am
http://www.washingtonpost.com/business/economy/wall-street-betting-billions-on-single-family-homes-in-distressed-markets/2013/04/21/ac4bdefc-a2e1-11e2-9c03-6952ff305f35_story.html
"MIAMI — Big investors are pouring unprecedented amounts of money into real estate hard hit by the housing crash, bringing those moribund markets back to life but raising the prospect of another Wall Street-fueled bubble that won’t be sustainable.
Drawn by the prospect of double-figure profit margins on rents and the resale of homes whose prices plummeted in the crash, hedge
funds, Wall Street investors and other institutions are crowding out individual home buyers."
“There is the possibility that Wall Street and the banks and the affluent 1 percent stand to gain the most from this"
“The investors are making it hard for a regular homeowner to buy a property, said Robert Russotto, a broker with Better Homes and Gardens Real Estate in Fort Lauderdale. “They are getting outbid by people with cash.” Russotto noted that out of the 20 home sale contracts he is the
process of completing, 17 of the buyers are major investors."
-> I guess we should get ready for another bubble!
"MIAMI — Big investors are pouring unprecedented amounts of money into real estate hard hit by the housing crash, bringing those moribund markets back to life but raising the prospect of another Wall Street-fueled bubble that won’t be sustainable.
Drawn by the prospect of double-figure profit margins on rents and the resale of homes whose prices plummeted in the crash, hedge
funds, Wall Street investors and other institutions are crowding out individual home buyers."
“There is the possibility that Wall Street and the banks and the affluent 1 percent stand to gain the most from this"
“The investors are making it hard for a regular homeowner to buy a property, said Robert Russotto, a broker with Better Homes and Gardens Real Estate in Fort Lauderdale. “They are getting outbid by people with cash.” Russotto noted that out of the 20 home sale contracts he is the
process of completing, 17 of the buyers are major investors."
-> I guess we should get ready for another bubble!
confuzzled dude- Posts : 10205
Join date : 2011-05-08
Re: Wall Street betting billions on single-family homes in distressed markets
by Petrichor Mon Apr 22, 2013 9:51 am
The new mantra is "Fake it till you make it"
Petrichor- Posts : 1725
Join date : 2012-04-10
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