HOUSING CRASH COMES THIS WAY

http://www.zerohedge.com/news/2013-12-11/las-vegas-housing-demand-has-crashed-while-supply-surging

Las Vegas Housing Demand Has Crashed While Supply Surging
Submitted by Tyler Durden on 12/11/2013 - 07:59

The last time the housing bubble popped, the "frontier" marginal market of Las Vegas was the first harbinger of what was about to come. It is that again, and as real estate expert Mark Hanson explains, "Las Vegas housing demand has crashed." This is hardly an auspicious sign for the rest of the epically reflated housing market which as we have been tirelelessly pointing out for the past two years, has not recovered, but has merely had its 4th dead cat bounce on the back of i) the implicit bank subsidy of foreclosure stuffing, ii) money laundering by "all cash" foreign buyers using the NAR's anti-money laundering exemption loophole, and iii) private equity zero cost of credit REO-to-Rent programs which are now in their last days.
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