Trumpettes
July 23rd, 2006 by 
reality
I found a new blog this weekend - Sacramento Area Flippers In Trouble - which provides listings where speculators are in the process of getting burned. Last year, even the National Association of Realtors (NAR) admitted that 40% of sales were to “second home” buyers. That doesn’t include the liars who claim they are buying a primary residence even though they are not intending to move in (to get a better mortgage rate), or the “stealth” speculators who are, in good faith, buying a new family home but who do not sell the old one.
As Warren Buffett famously said, “When the tide goes out, then you see who is swimming naked”.
Posted in Manias, Real Estate, Rogues and Rascals, Warren Buffett | 