Vultures gorging
Home resales are up: ``Vulture investors buying foreclosed homes are likely the
key driver of the rise,'' said Ian Shephedson, chief U.S.
economist at High Frequency Economics Ltd. in Valhalla, New York,
who forecast a 4 percent increase. ``But sales are sales and they
all take inventory off the market. The key test now is what
happens in September and October, but these numbers today are
welcome.'' (Bloomberg)
About this blog
Economic Alert is a daily blog on business and the economy in the San Gabriel Valley and beyond, featuring updates and observations from the staff of the San Gabriel Valley Newspaper Group. SGVN includes the San Gabriel Valley Tribune, Pasadena Star-News and Whittier Daily News.
Your hosts:
Kevin Smith is business editor for the San Gabriel Valley Newspaper Group. Over the past 15 years, Smith has covered development, housing, employment, technology and financial trends for a variety of newspapers.
e-mail
Ryan Carter covers business and the economy for the San Gabriel Valley Newspaper Group.
e-mail
Your hosts:
Kevin Smith is business editor for the San Gabriel Valley Newspaper Group. Over the past 15 years, Smith has covered development, housing, employment, technology and financial trends for a variety of newspapers.
Ryan Carter covers business and the economy for the San Gabriel Valley Newspaper Group.
Recent Comments