More Bullish Housing News
- Home sales volume is up.
- Home prices are up.
- The percent of people who say they want to buy a house is up.
- Homebuilder stocks are up.
- New home sales are up.
- New home construction is up.
All of these trends have been duly noted and discussed in my previous posts throughout 2012.
Well, here is another indication of strength in the single-family market.
Wall Street whales are now swallowing up plankton (houses) in massive quantities. The biggest of the big money is now foraging across America. Here are some excerpts from a Dec. 9 CNBC report.
“A flurry of private-equity giants and hedge funds has spent billions of dollars to buy thousands of foreclosed single-family homes. They are purchasing them on the cheap through bank auctions, multiple listing services, short sales and bulk purchases . . . with plans to fix up the properties, rent them out and watch their values soar as the industry rebounds.”