Investing to Wealth

This week 2 data points led optimistic market-watchers to declare the bottom in the housing is nigh: Indeed one widely read trader-writer proclaimed “The oversupply of housing that so plagues the market at present will be a figment of our memory a few months hence.” The first: On Monday the National Association of Realtors said existing home sales jumped 5.1% in February compared to the previous month largely due to the high number of foreclosures being dumped onto the market by big banks like JPMorgan Chase (JPM) Bank of America (BAC) and Wells Fargo (WFC). While indicative of buyers gingerly ...