Cannibalized real estate sales and demonized investors 
The Real Estate Roundabout
By Mary Umberger, Tuesday, June 21, 2011.
Flickr image courtesy of Wonderlane.SAN ANTONIO -- Still-dropping prices, near-in suburbs and Mexican real estate's image problem were among the real estate topics discussed last week during an annual gathering of the National Association of Real Estate Editors, where industry leaders shared their insights about the state of the real estate industry and real estate market.
Some notable quotes:
"Did we cannibalize future sales? The answer is yes."
--Ted C. Jones, senior vice president and chief economist for Stewart Title Guarantee Co.
Jones described what he termed the long-term failure of the homebuyer tax credit program in 2010. Still, he said, "Thirty to 36 months from now we will look back and slap ourselves for not buying now," he said of current affordability levels. "That glass is half-full and getting fuller."
"Fannie Mae and Freddie Mac haven't wanted to deal with investors (on foreclosed properties), but we recommended to them that there was a place for responsible investment."
--Shaun White, vice president for corporate communications, Re/Max International; coordinator, Re/Max national short-sale/REO programs with Fannie Mae and other asset managers.
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