Wednesday, April 8, 2009
Are We at the Bottom?
Many see the housing market as the key to economic recovery but acknowledge that until its pereceived that the market has hit bottom, many would-be buyers will sit on the sidelines. A March 24 Good Morning America (GMA) segment suggests that maybe we're there. GMA reported on a influx of foreign and domestic "professional buyers" (investors who buy homes--sometimes in bulk and sight unseen--at bargain prices to later sell at a profit). Their presence typcially signals the market bottom, or near to it, and thus the beginning of a recovery. Read the story, or search the GMA site for "Real Estate Vultures" to locate the original video report.