Seems like any purchase above $500K is most likely side-line money that’s coming back into the market. Wont take long to exhaust it, though.
Investors and first-time buyers at the low-end are looking busy right now, feeding in the REO market. Although money still seems pretty easy to get at this level of purchase, unemployment might dampen this within a few more months.
Unemployment just came in at a 16 year high. And this party is only getting started.
