| Housing sales have bounced in the last couple of months, but there's uncertainty about what the bounce actually means. Sales of houses were up nearly 10% in April compared to April of last year.
The crazy thing? Right now, even with insanely low interest rates, the bump is being mostly caused by a jump in cash purchases, according to Fortune: "What's noteworthy is that almost all of April's 4.62 million sales were driven by cash buyers and investors looking to turn properties into rentals, which suggests the recovery can continue even if mortgage lending remains tight, according to Capital Economics."..............................................Full Article: Source
|