When the facts change, I change my mind. What do you do? -- John Maynard Keynes

Saturday, August 9, 2014

Housing recovery is over, plus underwater mortgages

Housing recovery is over, reason #4--

It's over: "4. Paying in cash takes a tumble. Meanwhile, according to real estate data site Zillow, the share of buyers paying for homes in cash has fallen year-over-year in 102 of the 126 biggest metro areas. The fact that the number of cash buyers is declining shows that investors no longer believe that buying residential real estate will continue to provide big returns."

Then check out Barry Ritholtz's RealtyTrac chart: Another Look at Underwater Mortgages: Ritholtz Chart - Bloomberg View

The Big Picture

Financial Crisis - The Telegraph

JohnTheCrowd.com | The Sailing Website

Craig Newmark - craigconnects