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Cheap money fuels Wall Street's bets on housing

By tovarichpeter   2013 May 2, 1:26am   ↑ like   ↓ dislike   181 views   0 comments   watch (0)   share   quote

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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