“If the number of people who actually bought a home and moved in dropped by 175,000, then what we’re seeing is industrial-scale investment by Wall Street speculators who are getting lavish financing perks from the banks to buy distressed properties that, if they had been sold on the MLS or via bank auctions, would have driven prices down even further pushing bank balance sheets deeper into the red. In other words, the Obama administration, the banks, the Fed and the behemoth private equity firms are all in bed together to reward the people who blew up the financial system with another backdoor bailout.”

http://www.counterpunch.org/2012/12/18/the-mysterious-new-housing-bubble/

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