Fundamental Oversupply of HUD Homes

September 18, 2008 | Filed underHUD Homes | Posted by

Top housing official warned today that America has a fundamental oversupply of homes for sale, and that as many as 2 million homes will be foreclosed on this year.

At the heart of the turmoil are our housing and mortgage markets

  • We saw overbuilding and an overly aggressive push to sell more and more homes.
  • Home buyers either reached too far on speculation or fundamentally did not understand what they were getting into.
  • Lenders and originators increasingly focused on doing deals at whatever cost and often selling the risk to investors.
  • Purchasers of that risk invested dollars but not judgment or diligence in mortgages that were destined for failure.
  • There were breakdowns at all levels, and we are seeing the dramatic effects every day.

    • Go get the new article and read it… you can thank me later. Here’s the link:

    Fundamental Oversupply of HUD Homes

    Carlos Sagastume
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    Posted by on September 18, 2008. Filed under HUD Homes. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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