Sunday, June 16, 2013

Time to Buy a House? Not on Your Life! » CounterPunch: Tells the Facts, Names the Names

Time to Buy a House? Not on Your Life! - Mike Whitney 
"Anyone who buys a house in today’s market should be aware of the risks. They should know that current prices are not supported by fundamentals, but by unprecedented manipulation by the Fed, the Obama administration, Wall Street Private Equity investors, and the nation’s biggest banks. If any of these main-players withdraws or even reduces their support for the market (in other words, if the banks release more of their distressed inventory, if rates rise, if PE firms buy fewer homes, or if the Congress curtails current mortgage modification programs), housing prices will fall."

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