Credit crunch hits hard in some real estate markets 

Last year, about 90 percent of the real estate transactions that broker Bryant Tutas handled for his clients were financed by subprime loans.

"We have been hit very, very hard by this credit crunch. In March, when all of the subprime stuff hit, our market came to a screeching halt," said Tutas, broker-owner for Tutas Towne Realty Inc. in Poinciana, Fla., south of Orlando. "When they pulled that loan product away my market really came to a ... halt."

more...

To view this premium content sign in to your Premium Member account.

Premium Members have full access to all news archives & premium content.

Purchase Premium+ Membership for $99/year OR
Premium Membership for $49/year

Buy Now

Advertise with Inman

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.