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14

The Housing Market Is Waving a Red Flag

By Tony Seruga

Third-party investors are making up an alarmingly high share of auction purchases, according to housing-data firm RealtyTrac

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An auctioneer speaks to potential bidders outside a home in Atlanta.

Photographer: Chris Rank/Bloomberg

Almost nine years after the housing-market bust helped trigger the most recent recession, RealtyTrac senior vice president Daren Blomquist sees the industry waving a red flag.

The same fervent speculation that abetted the housing bubble is showing up in the bloated share of foreclosures snapped up by third-party investors at auction — a record 31 percent in June, according to RealtyTrac data that starts in 2000…

The Housing Market Is Waving a Red Flag

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