Posted by Mark Washburn on Thursday, January 12, 2006 at 5:56 PM By Mark Washburn / January 12, 2006 Comment
Many investors are exiting market The Dow hit 11,000 this week, want to know why? In part it is because investors are exiting the real estate market and heading back into the stock market. According to David Berson, chief economist with mortgage company Fannie Mae, "We expect housing activity to drop about 8 percent this year - it's primarily because of investors' slowing purchases." "We can't find a period when the investor share of home sales has been higher than in the last year," Mr. Berson said. "In the fourth quarter, it looked like investors were starting to step back." I have not seen any recent figures for the percentage of investor owned real estate in SW Florida, although I expect it is higher than the national average. In particular, plated vacant land and high-rise condominiums that are so prevalent in our region typically have a significant investor presence. Housing troubles expected [Dallas Morning News]
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