There is “false sense” of residential demand: REIT expert

With the first-time homebuyer tax credit expiration impending, many in the industry are trying to determine how the program’s departure will affect the market. Jonathan Litt, a Real Estate Investment Trust analyst and founder of securities management team Land and Buildings, told MSNBC in this video that the market right now has a “false sense” of what the real buyer demand is because of the tax credit. “You can’t really take the current housing statistics too seriously,” Litt said.