Article on Buying Without Seeing

[John Franczyk]

I'm passing this along because I found it interesting. Bloomberg published this article today to summarize a Redfin report that one third of home buyers in the U.S. are bidding on houses sight unseen:

https://www.bloomberg.com/news/articles/2018-02-26...

Most if not all of this activity occurs in hot markets. I'm sure that investors and speculators comprise a substantial portion of the bidders. I suspect that this activity will reduce investment leads in the short term, but will lead to a bubble that creates opportunities in the longer term.