...The same kind of decline in institutional buyers was a dramatic harbinger of the last downturn as more seasoned stakeholders headed for the sidelines.
"Their analytics are telling them it's not a good time to buy — that's definitely another red flag that they're pulling back at the same time as the less savvy investors are ramping up," he said.
And while investors at foreclosure auctions could rely on about a 40 percent discount from the previous sales price in the early years of the expansion, this year they're only garnering about a 30 percent markdown, Blomquist said....
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