Analyst to Senate: We need investors to save the housing economy

Testifying before the Senate’s Subcommittee on Housing, Transportation and Community Development, Laurie Goodman of Amherst Securities Group said that because of the huge backlog of foreclosed and REO property, consumers alone can’t be expected to fuel the recovery.

[W]e believe that long-term investors in 1–4 family residential real estate are the key to a housing recovery: they are the only potential buyers of many distressed homes that are likely to hit the market over the next 5–6 years. Investors need to be part of the solution.

About Andrew Kantor

Andrew is VAR's editor and information manager, and -- lessee now -- a former reporter for the Roanoke Times, former technology columnist for USA Today, and a former magazine editor for a bunch of places. He hails from New York with stops in Connecticut, New Jersey, Cincinnati, Columbus, and Roanoke.
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