scotty1560

Residential Real Estate: Erosion Ahead

Still think the biggest culprit of the housing bubble (at least
in South Florida) was de-regulation and outright scamming.
Take 100%-110% financing (no equity), bogus appraisals,
lying on applications and you create a monster.
Builders-Title Companies-Underwriters...
all part of the scam, mostly in new construction.
Condo flipping was another past of the scam.
These combined title-mortgage-real companies need
to be broken up, to easy to scam the system.
That said, probably 1-2 summers to bottom and 3 years
sideways. South Florida is 3 1/2 years into this
and probably 7-8 years into price roll backs for land
cost, so it's pretty far down the trail. Real estate is
a localized market so national figures are not the best
tool in most cases.