Zeev's Turnips Patch-No Politics (ZEEV)

[Newly2b]

This is done by lenders in the past several years offering new homebuyers "no-down" or "low-down" home loans (or adjustables which start with a very low interest rate and rise each year) which get the buyers in over their head and, since the buyer has little or no cash invested, when things get rough (default) he simply walks away (foreclosure). Expect to see more of it in future.

Inventory of homes for sale is rising because more people (many in default due to job loss, etc.) have to sell, and fewer buyers qualify for any loan at all when prices rise as high as they are now. Fewer sales equal higher inventories.

Newly