Friday, April 07, 2006

Investors Are Taking Their Money, And Running

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This from Bloomberg News:
"The bulk of the decline in home sales this year will come from investors leaving the housing market," said David Berson, chief economist of mortgage buyer Fannie Mae. "If home price gains have peaked, as we expect, and financing is more expensive, investors are going to find someplace else to put their money."

-- The Boy in the Big Housing Bubble/Los Angeles and Beyond