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Investor-driven housing recovery poses danger

Investor-driven housing recovery poses danger

jeffhar - March 1, 201 Ms. Glink, you obviously aren`t out in the field selling real estate as I am as a Realtor. I can tell you that your opinion that the market may falter when investors pull out is not one I bet is shared by most Realtors that are struggling to find homes for their owner-occupied buyers. Every day many buyers that are looking to own their own home as a place to live in are being beat out by all cash investors. There is so much pent up demand by these buyers that when the large investor pool does shrink to normal levels these buyers will step up and fill the void. As anecdotal evidence I can tell you that in the lower end price range in our area ($500,000 and below) homes don`t last more than a few days on the market. These homes sell for multiple offers and this leaves all but one as the buyer. The "losers" have to wait for the next home to come along and when it does the feeding frenzy starts all over again. So when you say there could be "danger" ahead - I really thing that you`re trying to sell the article more than serious reporting because if you had researched this issue further I think you would have come to a far different conclusion. You`re using words like "Many of these aren`t your bargain hunters..." - Really? What numbers are you using to come up with the "many" comment. In our very hot market in So Cal this number is in the high teens to mid `20`s - hardly many as you stated. Yes you quoted some figures but you`re painting a worse picture than you need to here. Let`s talk rather about the increased equity that has occurred in most parts of the country - thus helping the underwater homeowners recapture some of their equity. This also reduces foreclosures and improves the economy as a whole when owners see value in their property and begin to invest in repairs, improvements - all a trickle down effect in the home improvement industry, right? So danger, I really don`t think so...

jgg000010 - March 1, 201 wait, I thought the housing recovery was the tip of the spear that was going to lead to the overall economic recovery. At least that`s what jill schlessinger has been telling us for 6 months.

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Investor-driven housing recovery poses danger

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