Something is happening with the housing market
And I don’t approve, personally.
I’ve been watching the housing market since the pre-2008 pop. Poor people around here started being able to get perfectly good homes for $6-12K around 2005 in my neighborhood. (the same houses that were selling for $60K just a year before.) I guess it makes sense that bubbles pop in the hood first.
But now prices are skyrocketing again. I guess the bankster “hoard [houses…don’t put them on the market…just hold onto them] to inflate prices” trick is working? Housing prices have about doubled over here in the past few months. And this is not a gentrifying neighborhood, or a hood targeted for “urban renewal”. Blight is actually increasing again after several years of refilling with owner occupants.
I’ve seen this trend start and fall back a few times over the past several years, but never this hard-core. Is this bank house hoarding combined with QE3 kicking in?