Showing posts with label massive oversupply. Show all posts
Showing posts with label massive oversupply. Show all posts

February 23, 2007

HousingPANIC Stupid Question of the Day

There are millions of unwanted, for-sale, wildly overpriced homes in America today. Many are in foreclosure. Many are owned by flippers and fraudsters. Many are sitting empty. Many are owned by regular folks just trying to get out, or into a new home.

In addition, sub-prime has completely melted down, severely limiting the buyer pool (including the fraudsters).

And every sane person in America knows there was a housing bubble, which ended in 2005, and that we're in a housing crash or "correction" now.

So my question, my simple question is...

Who is going to buy all those damn homes?

Oh dear god is this going to end badly.