From a WSJ article on the bath many real estate “investors” are taking on California, Nevada, and Florida condos and homes:
Sazzad Khandakar, 43 years old, an information-technology manager and father of three in Monroe Township, N.J., is among the nation’s distressed home investors. In early 2005, he bought a $410,000 condominium and a $390,000 newly built single-family home, both in Orlando, Fla. “Everybody around me bought an investment home in Florida,” Mr. Khandakar said. “Florida was all over the news; my friends were doing it….I didn’t want to miss out.”
While I’m generally in favor of the Fed loosening, there are some people you just don’t want to see bailed out by lower rates.