Friday, October 14, 2011

Misc: Market and Foreclosure Auction

by Bill McBride on 10/14/2011 04:11:00 PM

S&P 500This graph (click on graph for larger image) from Doug Short shows the recent market increase.

I'm at a foreclosure auction in California. The auction is ongoing ... 50+ properties were postponed. The first several properties went to the beneficiary.

We just saw a bidding war starting at $356,000 and the property was bought at $520,100. Pretty wild.