The Real Estate After Christmas Sale Continues

There are two groups who benefit when a bubble bursts: Those that saved their pennies, and those who are lucky enough to have deep pockets. That's why we've said repeatedly right now is like an after Christmas sale for the financial and real estate inclined.

That doesn't lessen the hurt for others, or does it?

Here's why you care: Amidst the further gloom and doom headlines today is a great story in the Wall Street Journal about how a bank in San Diego is buying up houses banking on the market turning around in five years. Even though you likely don't live in San Diego, and each real estate market is just that - a market unto itself - this matters to you. Why you care is because even if you can't take advantage of the sale, and are worried about your house price, it is another sign that those who are financially enabled are convinced of a turn around (albeit down the line). That should help some of the sleepless nights.

Here's another reason why you care: Just like this San Diego bank, the Washington Post has previously reported that Fairfax County Virginia has stepped in as a local government actor to buy properties in foreclosure. They are acting in defense, but down the line, that just might look like a terrific offense. (Many thanks to the alert Why You Care fan that sent us this link).

Gives you a sense that there a lot more deals going on out there than you are aware of, huh?