[quote=SD Realtor]4sranch_buyer go to sdccu. They are very competitive and do not have any problems with seasoning. I believe the change is effective 2/1/10.
pr – I was not referring to you. I was making a general statement because most people are not as informed and view flippers as a cause of alot of the problems.[/quote]
Though some of us think flipping is a big part of the problem, it doesn’t mean we’re not informed.
It’s pretty well established that when dealing in markets where there is a limited/finite supply of a basic necessity, that speculation will absolutely create unhealthy volatility and potentially great losses to those who are just trying to buy out of need vs. speculation.
Yes, eventually it all evens out as the speculators have to put inventory on the market in order to make money, but it’s the time lags in a rather illiquid market (long durations to get more inventory online, high transaction costs, long marketing/escrow time, etc.) that make speculation such a problem.
