by making the following statement. "The problem with foreclosures is that it will continue to get worse." He went on to say, "The investors who are buying up the foreclosures and remodeling them to turn around will not be able to sell them for what they have invested in them and they will turn into forclosures as well." He said, "In my opinion the market is going to continue to go down."
This is coming from a contractor. He is remodeling many of the penthouses and condo's in our area and has the opportunity to have many conversations with other Investors. Many of the investors he has talked with have actually decided to hang on to their money.
What do you think will happen to the properties the investors are snatching up???
Do you think the cycle will continue??? Do you think the Investors will have the next group of foreclosures?
Addendum:
With this blog, I will also ask, what about the contractors with customer deposits, that filed Chapter 11. There are not enough investors in the world to help them out...what happens here???
Comments(43)