Real Estate Crash Dirty Little Secret

The media has been blaming the average home owner who is loosing their home for bringing down prices of the real estate market. Actually, it was the investors who were flipping homes that "dumped" homes on the market beginning in late 2006 that turned this market. In some places, like Phoenix Arizona, speculative home flipping investors accounted for up to 40% of all home sales. Individual home owners who are now going into foreclosure are just a a byproduct of the home flippers that created the bubble, and then popped it.