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July sales up as investors turn to real estate
Panicked investors are taking money out of the stock market and putting it into another recently distressed investment ` real estate.
`We`re seeing more all-cash offers from people who have money sitting in accounts,` said John Heaney, a real estate agent at Century 21 Annex Realty in Quincy. `People are nervous, they want to invest in something they can feel and touch.`
Karl Case, a Wellesley College economics professor and co-creator of the S&P/Case-Shiller home-price index, said he`s seen the same phenomenon.
`Foreign buyers are doing that more than we are,` he said. `They`re seeing value in American real estate."
Read the full article here.
Panicked investors are taking money out of the stock market and putting it into another recently distressed investment ` real estate.
`We`re seeing more all-cash offers from people who have money sitting in accounts,` said John Heaney, a real estate agent at Century 21 Annex Realty in Quincy. `People are nervous, they want to invest in something they can feel and touch.`
Karl Case, a Wellesley College economics professor and co-creator of the S&P/Case-Shiller home-price index, said he`s seen the same phenomenon.
`Foreign buyers are doing that more than we are,` he said. `They`re seeing value in American real estate."
Read the full article here.