Housing Market Being Gamed

…The banks are keeping houses off the market to trick people into believing that prices have hit bottom. But prices haven’t hit bottom, in fact, they still have a long way to go. So, what’s  going on here; what do the banks hope to gain by withholding supply? …

http://www.counterpunch.org/2012/05/21/the-waltz-of-the-zombie-banks/

Comments

  1. One of the 99% says:

    Interesting article. However, if you can buy a house for less than you pay in rent and like the area, shouldn’t you consider it (even if there is a risk that prices could fall another 10%)? Is there any indication that rental prices may fall?

  2. Yes, if you can buy a house for which the total expenses are less than rent, you should. Right now, rental prices are increasing as demand increases from dispossessed homeowners. Whether that continues remains to be seen.

Speak Your Mind