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IPFS News Link • Housing

Flood of foreclosures could drive home prices lower

• LA Times
On Kentucky Derby Drive in Moreno Valley, CA, the houses with "for sale" signs on their lawns boast Craftsman-style facades, roomy floor plans and granite-countered kitchens. Four of the nine have something else in common: They're owne

1 Comments in Response to

Comment by Fascist Nation
Entered on:
Undoubtedly.

When you have a bubble, the goods (real property in this case) are overpriced. The bubble bursts. Everyone looks around and goes, "What the f@*k!" Then those in the know who watched swoop in after the fire sales start. Cause fire sales, in a buyers market drive prices down to their actual value.

But the prices have not started to fall yet. Not really. The buyers are still waiting.



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