Video – Daytrading Homes
Seabreeze Partners’ Doug Kass talks about what led to speculative buying in the housing market and who is to blame.
“We had a Federal Reserve that kept interest rates too low, for too long. It catalyzed a group of speculators that never had an intention to be domiciled in their homes, many of whom shifted from daytrading stocks in the late 1990s, to daytrading up homes.”
Kass was one of our featured speakers at a Reuters and MSN Money panel alongside this year’s Reuters Housing Summit, which continues through Friday in New York, London and Washington, D.C.