According to Bloomberg, there’s 650,000 homes in foreclosure in the United States out of 18 million.
One real estate investor quoted in the article had this to say:
“This country needs a cleansing,” billionaire real estate investor Sam Zell, chairman of Equity Group Investments LLC, said yesterday at the Milken Institute Global Conference in Los Angeles. “We need to clean out all those people who never should have bought in the first place, and not give them sympathy.”
If you see him begging for quarters on the street as a homeless person some day, be sure to remember that line.
Seriously though, there are people who got mortgages who shouldn’t have. Who is to blame? The people? Or do the lenders take some responsibility?
If you want to work at home doing real estate, for people with money, that means some real steals are available.
Here are some books at Amazon on that topic…
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