Is Housing Really Recovering?
Shiller in NYT over the weekend (http://www.nytimes.com/2013/01/27/business/housing-markets-future-still-has-many-clouds.html ) stated the housing sector is out of the woods discussing the purchase increase but saying other numbers do not support why housing is doing better. Nowhere did he follow the money to see that hedge funds are buying up houses in bulk sight unseen and renting them. This requires maintenance work like painting etc and new appliance purchases but is it a true market upswing when they are overpaying for houses IMHO (and many houses are now multi-tenant)?
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