June 10, 2012
AND THAT'S BEFORE THE AMNESTY:
Shortage of homes for sale creates fierce competition (Alejandro Lazo, 6/10/12, Los Angeles Times)
The newest problem for the slowly improving housing market isn't a shortage of serious buyers, it's a shortage of good homes.Would-be buyers are packing open houses and scrambling to make offers on properties before they are even listed. Bidding wars are erupting. And real estate agents are vying fiercely to represent the few sellers that do exist.Housing inventory has sunk to levels not seen since the bubble years. The number of American homes with a "for sale" sign hit 2.5 million in April, the lowest number for an April since 2006, according to the National Assn. of Realtors.
The Obama stimulus bill should have consisted of nothing but immigration reform.
Posted by Orrin Judd at June 10, 2012 7:05 AM
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