Cracks Appear In Housing Market As Sellers Begin To Lower Asking Prices

submitted by Drewski from zerohedge.com

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newinsightfulfun

[–]IkeConn 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (2 children)

The crash is coming and rich people bought up all the houses. It will be fun to watch them take a bath.

[–]jet199 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (0 children)

Sign up to the auction house emails now.

[–]Zapped 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (0 children)

They bought it with basically free capital. They will just transfer it to another investment when the market crashes.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Yeah, I moved out of all my stocks that were housing related. I figured if there are homes nobody can afford, and the fed is raising interest rates affecting loans, suddenly you're going to have a whole lot of something with no demand.

30% of the homes on the market are investments.