Housing Bubble - Part Deux | Zero Hedge: "At this point there is no scenario that turns out positive for the housing market. If the Fed has the guts to raise rates, the housing market will tank because mortgage rates will rise. If the Fed chickens out again, it will be because the economy is clearly in recession and demand for overpriced homes will plummet as unemployment rises. Home prices have risen so far above fair value at this point, the market is already beginning to topple.
Flippers are getting stuck with houses they can’t flip for a profit. Hedge funds have stopped buying and have begun selling. Anyone dumb enough to have been lured into this market in the last few years will be underwater in no time. The foreclosure train will be leaving the station shortly. We’ve been here before. "
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