We asked Kirk Nace for his take on this, and in his typical style he answered us with "if home sales, and expectations for home sales were strong do you think they would have continued allowing investors to absorb some of the MASSIVE inventory that exists today and will be with us for many more years? They are doing whatever they can to prop up the numbers, they know that when an investor buys and "flips" that will be counted as 2 sales thereby making the numbers, and the "recovery" look far better than in reality it is."
Click on the title above or the link below to review the entire Reuters article.
http://www.reuters.com/article/2011/01/28/usa-housing-idINWAT01484820110128
