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Cheap money fuels Wall Street's bets on housing


By tovarichpeter   Follow   Thu, 2 May 2013, 8:26am   31 views   0 comments
In South San Francisco CA 94080   Watch (0)   Share   Quote   Permalink   Like   Dislike  

http://news.yahoo.com/special-report-cheap-money-bankrolls-wall-streets-bet-110359890.html

By Matthew Goldstein LAS VEGAS (Reuters) - Michael Marchillo, a plumber, has been trying and failing for months to buy a bigger home for his family here in Sin City. He was pre-qualified by a bank for a $130,000 mortgage, which a year ago would have landed a typical three-bedroom home in the area. No more. Now, the 36-year-old says, it's hard to compete with "greedy investors" who come to the table flush with cash for quick deals. Marchillo is on to something.

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