The Real Deal New York

A market in real estate fraud

Today's low home prices and cheap interest rates may be setting the stage for a new generation of crime
By Kenneth R. Harney | January 26, 2012 03:30PM

From the January issue: Could today’s seductive conditions in the housing market — severely marked-down prices, record-low interest rates and hundreds of thousands of foreclosures waiting to be resold — be breeding new generations of the very practices that led to the crash?

In an ironic twist, there are signs that the wreckage left over from the housing bust may be reigniting dubious real estate schemes and fraud. According to researchers: Property flippers are back in action in places like South Florida and Las Vegas, where condo prices crashed but are now seeing appreciation again in some areas. [more]