The current housing bubble in the US is being used to pay off credit cards, as folks take out second mortgages, the elderly take out loans through reverse mortgages (those despicable CHIP ads on TV) and as folks buy and flip homes in heated up real estate market. But has the bubble burst? Forbes thinks so.
Special Offer: What happens as the middle and working classes get priced out of home ownership? They stay in apartments, which is good news for multifamily REITs, which pay fat yields and have returned an average of nearly 20% year-to-date. Click here for the best buys in apartment REITs from the Forbes/Slatin Real Estate Report.
And so does the new Fed Chairman. Bernanke batters stocks
As I posted here yesterday the US is about to enter a period of Stagflation.
See: Greenspans Legacy
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