All of a sudden, it seems, everyone on Wall Street wants a
foreclosed home. Yes if you can believe Fortune --Your house might be a better
investment than you think. At least Wall Street seems to think so.
For a while now the conventional wisdom on real estate has
been that while home prices might not fall much more, they aren't likely to go
up anytime soon either. The best personal finance advice, then, when it came to
buying a house, was to buy as little as possible.
Apparently, though, on Wall Street that common wisdom about
home prices is not held by all, or even many. In the past six months or so, a
number of investment firms, hedge funds, private equity partnerships and real
estate investors have turned into voracious buyers of single-family homes. And
not just any homes, but foreclosures. Investment banks, who also want in on the
action, are lining up financing options to keep the purchases going.
Take for instance private equity mega-firm Blackstone Group…..
Wait…wait…there’s more at http://finance.fortune.cnn.com/2012/07/24/wall-street-foreclosures/
No comments:
Post a Comment