Investors beware

The current shortage of foreclosed properties for sale that is pushing up prices is an artificial phenomenon, said Bruce Norris, principal of the Riverside-based Norris Group, which provides loans and advice to real estate investors. Don\’t buy homes on the assumption that prices will continue to rise and you can soon resell a house you buy at a profit, Norris cautions investors. \”I don\’t want them to get faked out into thinking the market is getting permanently better,\” he said just yesterday.

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