Wednesday, March 18, 2009

Real Estate Bottoming?

"Falling home prices are spurring an increase in all-cash home sales in markets that have been hardest hit by the foreclosure crisis, an indication that bargain hunters have descended on the markets looking for deals. ... Cash sales are up even more in many Florida markets. In Miami, cash offers accounted for 30% of sales last month, according to a report by Thomas Lawler, a housing economist based in Leesburg, Va.", Nick Timiraos at the WSJ, 25 February 2009.

When cash buyers come out, it's a good sign there is value present.

1 comment:

Anonymous said...

$$$$ is serious in a credit culture...