Housing Recovery?

Posted: September 10, 2013 in Economics
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“In normal times, two-thirds of real estate activity is organic, meaning people buy homes to live in them. Today, that ratio is reversed: more than two-thirds of all real estate activity in the country today is by either investors or first-time home buyers.  That’s not a recovery….  I can’t even imagine what the impact on the home market would be if every investor today that owns a home decided that it was no longer profitable or worthwhile, and decided to put it on the market.  There are literally millions of homes out there that are owned by investors, and if they decided to rush for the exits, it would be scary.” -Andy Miller  Real Estate Expert

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