A Stunning 60% Of All Home Purchases Are "Cash Only" - A 200% Jump In Five Years | Zero Hedge: "One And Only
Obama's policies have priced the consumer out of housing
One of the awesome things about lower home prices is that homes become affordable. But when you back stop and provide liquidity to institutions like Blackrock guess what happens? Blackrock buys the properties and rents them out. So instead of letting the market work and actually letting home prices fall to affordable levels (for consumers) you have institutions flush with Fed provided liquidity buying up properties. OBVIOUSLY pricing out REAL potential home buyers.
Obama must prefer this. His healthcare mandate has created a part-time worker society while his Federal Reserve has made financial institutions flush with cash. And don't give me some bullshit that it's not Obama, as I just recently saw him on the teevee stroking the ego of Ben Bernank by saying how awesome he is.
This is what America wanted. This is what America gets. Part time workers renting from Blackrock.
Embrace fascism patriots and move forward."
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