Smalltownbanker

A Few Unhealthy Home Purchase Statistics

Those South FL cash buyers are actually Medicare Fraudsters reported on 60 minutes last night but hey, at least they are putting some of the cash they are bilking from us back into the economy.

Real housing recovery is 2-3 years away. Over-inflated markets still have room to fall but some have reached bottom where land value is virtually nil and foreclosed homes are being sold for under cost to build. Next waive of declines in value will be inside the beltways in the city markets that have continued to hold much of their value. Presure from lower prices in the near suburbs will force them down.