You Read it Here First!

Nice to be first with some good, cutting-edge housing market insights — plus some extra analysis and context.

Compare what ran in the Strib yesterday, with my May 27 post:

The banks are selling, but banks aren’t buying . . . the result: a one dimensional housing market dominated by first-time Buyers.

–“In Real Estate Fire Sale, Sellers Can Get Burned”; Star Trib (6/21/09)

Now, here’s my crack at explaining the same phenomenon, back in May:

If the housing market is an escalator, anything that strengthens the lower rungs theoretically benefits the higher rungs, too. . . Unfortunately, banks, not individuals, own the foreclosed homes being snapped up. As a result, when a deal closes, the Seller doesn’t automatically become a Buyer for another home.

–“Escalator Short-Circuit“; City Lakes Blog (5/27/09)

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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