Reports, among others, that an open house for a five-bedroom brownstone in Brooklyn priced at $949,000 drew 300 visitors and brought in 50 offers are fueling fears of froth in the nation’s real estate market. The U.S. spring homebuying season has been marked by a frenzy of demand driven by Federal Reserve initiatives to bring down borrowing costs, a dearth of listings, and a new appetite on Wall Street for foreclosed homes.
Read more at BloombergBusinessweek.
Leave a Reply