Relevant:
- SoCal Sales Up, Prices Still Down; MDA DataQuick
- Existing Homes Sales Record Biggest August Drop-EVER But Prices Keep Inflating - The Wall Street Examiner
- Velocity of home price increases and leverage for Los Angeles and surrounding markets -- Where are the California Real Estate Agents?
- First-Time Homebuyers Frustrated by Investors
- NYC Investment RE Sales On Pace To Hit 9-Year Low
2014-04-06 — doctorhousingbubble.com
The current sales volume is lower than what we saw in the early 1990s. In fact, current sales are the lowest since the market imploded a few years ago. What gives? The current trend was driven by low inventory, investor demand, and house lusting buyers. As investors pull-back and affordability falls, it is natural to expect volume to naturally pickup as it has. Yet California is largely becoming a renter state.Â
...
[But now] the investor crowd is pulling back: "Prices have gotten to the stage where we cannot buy a house, renovate it, rent it and still make a reasonable return," said Peter Rose, a spokesman for Blackstone, which owns roughly 41,000 rental houses nationwide. "There was a moment in time where it made sense."
source article |
permalink |
discuss |
subscribe by:
|
RSS |
email 
Comments: Be the first to add a comment
add a comment | go to forum thread
Note: Comments may take a few minutes to show up on this page. If you go to the forum thread, however, you can see them immediately.