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Flood of Shadow Real Estate Inventory about to hit the market will drive prices
invite response
2012 Jun 11, 9:49am 34,449 views 62 comments
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I think that there are two housing markets. One for rich investors and one for the average home buyer. On many occasions I have looked at Redfin and have seen great homes sold for very low prices. But I suspect that the good deals primarily going to investors, realtors, or others that have an in on the market. The banks will except a low cash offer from and investor before excepting a higher priced offer from an average person with traditional financing. So looking back at the data may show lower priced homes but it most likely was sold to someone with cash. Meanwhile the rest of us home buyers are left competing for the high priced flipped homes. It just not fair :(
freak80
2012 Jun 25, 1:51am
I think that there are two housing markets. One for rich investors and one for the average home buyer.
Rich people don't see housing as an investment. If they did, they wouldn't be rich in the first place.
If real-estate is an investment, it's one that pays negative dividends in the form of property taxes, insurance, and maintenance. Do you want an investment that pays negative dividends? I do not.
freak80
2012 Jun 25, 2:31am
Oh, so there are not investors buying up homes?
I have no idea. Are they planning on becoming landlords? Or are they just speculating?
bubblesitter
2014 Jul 17, 12:48am
If the flood ever comes it won't reach the MLS for would be buyers, they will be scooped up at auctions. You will know when listing starts popping up after being acquired by investors at the auctions.
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Flood of Shadow Real Estate Inventory about to hit the market will drive prices further down. My friend who works for B of A Foreclosure Dept informed me the National HUD moratorium was lifted last month in which they expect the next big wave of foreclosures to hit throughout the end of 2012 and 2013. The media cannot broadcast this because this information will cause potential buyers to hold off on buying properties which will further drive the prices down which will cause the banks to lose more money. Awe, poor executives at the banks…after they fraudulently used the gov’t bail out money to give themselves gigantic bonus, do we really feel sorry for them?
Below is what the media has posted so far as they do not want to publicize how grim the outlook really is.
http://www.reuters.com/article/2012/04/04/us-foreclosure-idUSBRE83319E20120404
#housing