Zell: Price hikes in single-family homes may not reflect actual supply

04/11/2013 | CNBC

Sam Zell, chairman of Equity Group Investment, notes that while the market has seen price increases in single-family homes in the last six to seven months, much of that price increase is due to a big chunk of supply not being in the market, either because they have not been foreclosed on or are unresolved. The investors buying foreclosed houses, he predicts, may not find "the logistics to be product-positive."

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