“Fewer Americans signed contracts to purchase previously owned homes in February as limited inventory and access to credit held back a more robust recovery in housing.”
— Are $950,000 fixers and impossible lending standards and the need for quarter-million down payments with no-contingency bidding-war offers possibly slowing the current idiotic real estate frenzy? Perhaps! But here is a proven fact: Whenever people are acting super stupid-crazy about any market, it is wise to stay the hell away from said market.
Photo by Jeremiahsb.