NEW YORK ( TheStreet) -- Gone are the campouts to get in line for the release of phase 2 of Canyon View Estates. Gone are the no money down, low-interest rate loans. Gone are the "if you can fog a mirror" loan qualifications. And gone is a whole a lot of equity in our homes.Investors once again learned a very harsh lesson on valuation. Value does matter! Real estate had been appreciating at rates way beyond the norm for several years. Cheap money, loose lending practices and a horde of buyers chasing a dwindling supply of new homes created yet another value bubble that had to burst at some point.
How to Play the Rebound in Housing
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