Thursday, March 24, 2011

HUD's AZ home auction: no investors allowed

About the auction that HUD has planned for 150 foreclosed houses and condos on Saturday in Arizona: everyone who buys a property there has to live in it for a year.

Finally. One more step toward reconnecting home purchase transactions with actual places to live; one more step toward bringing the funny money down to earth, turning it back into real money.

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