so many foreclosures: Connecticut Foreclosures and Short Sales
- 12/11/11 06:45 AM
Connecticut foreclosures and short sale is not the reason for our homes depreciating in value, it is the end result of bad policies, easy money and overbuilding of 5-10 years ago. 2003-2007 were times when builders got rich and investors got richer. Investors were gobbling up 2, 3 and 4 vacation homes and banks were lending money with no income verification. It was times when demand was high and supply was low and because of that, home prices were rising 1-2% per month and lasted for several years. In a matter of just 3 years, home prices increased 35-40 percent in … (1 comments)
Connecticut foreclosures and short sale is not the reason for our homes depreciating in value, it is the end result of bad policies, easy money and overbuilding of 5-10 years ago. 2003-2007 were times when builders got rich and investors got richer. Investors were gobbling up 2, 3 and 4 vacation homes and banks were lending money with no income verification. It was times when demand was high and supply was low and because of that, home prices were rising 1-2% per month and lasted for several years. In a matter of just 3 years, home prices increased 35-40 percent in … (1 comments)
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