Wednesday, December 07, 2005

No Bursting Bubble, But Air Seeps from Balloon

"Individuals are pulling back from buying homes and condos as an investment, in a move that could accelerate the cooling of the housing market," the Wall Street Journal reports a bit breathlessly. In markets such as Las Vegas, Miami, Phoenix, San Diego and Washington, D.C., fewer people are competing to buy properties as an investment, and Some investor-owned properties are returning to the market for sale. "some investors who were betting on quick profits are instead being squeezed," the paper said.

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