Industry News

The right time for bulk buyers?

Experts say some lenders reluctant to unload units
Published on Oct 8, 2009

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by CareyBot

A forest of foreclosures -- the afterglow of a financial firestorm, overbuilding and plummeting home prices -- roused a buzz within the investor community about bargains galore and bulk purchases.

Some sprawling subdivisions and towering condo buildings, spawned during the fever-pitch housing boom, years later contain more vacant units than occupied ones -- some were never sold; others were sold and soon after ended up in foreclosure.